Gold futures jumped 4.5% on Thursday to settle at their highest level in about a year as steep losses in global stock markets helped to lift the metal’s investment appeal.

April gold rose $53.20 to settle at $1,247.80 an ounce on Comex, after tapping an intraday high of $1,263.90. The settlement was the highest since Feb. 5, 2015.

Source: MarketWatch