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Gold miners big and small were soaring Wednesday as investors flocked to safe-haven assets in reaction to a shock victory in the US presidential election, which boosted the price of precious metals.

SPDR Gold Trust (GLD), an ETF that tracks the price of gold bullion, rose 0.8% to 122.63 in the stock market, off intraday highs for 124.35.

Gold is often viewed as the ultimate haven play. It usually climbs when the dollar falls and during uncertain market events.

Canada’s Barrick (TSX, NYSE:ABX), the world’s No.1 gold producer by output, was up almost 5% in Toronto and 3% in New York this morning. Fellow Canadian miner Goldcorp (TSX:G)(NYSE:GG) was soaring almost 7% in Toronto and 6% in in the NYSE, while rivals Kinross (TSX:K)(NYSE:KGC), Eldorado Gold (TSX:ELD)(NYSE:EGO), Newmont Mining (NYSE:NEM) and NovaGold (TSX:NG) they all follow suit, with average gains over 4% each.

New York-trade shares for African miners Harmony Gold (NYSE:HMY), Sibanye Gold (NYSE:SBGL) and Gold Fields (NYSE:GFI) were performing even better than they did in the Johannesburg Stock Exchange and were up 6.05%, 7.67% and 5.9% respectively at 10:50AM EST.

After a sharp surge overnight, gold prices fell back below $1,300. December gold last traded at $1,287.5 an ounce, up 1% on the day, having peaked at $1,338.30 earlier.

While the gold price has given up much of its initial surge following the US presidential election, staying stuck below $1,300 early on Thursday, the rally in industrial metals were only gaining momentum.

In pre-regular hours trade on Thursday copper for delivery in December jumped more than 10 cents from Wednesday trading as high as $2.5910 per pound ($5,712 a tonne) in New York.

That's up more than 12% since the eve of the election and the highest since early July last year.  Copper has risen during 13 of the last 14 trading sessions, adding 23.8% in just over two weeks.

Measured from recent multi-year lows hit at the end of 2015 and in January and February this year the recovery in prices this year is even more impressive

Base metals have already enjoyed a breakout 2016 with across the board gains year-to-date.

Measured from recent lows which mostly occurred at the end of 2015 and in January and February this year the recovery in prices this year is even more impressive:

Zinc is up 73% from 52-week lows to exchange hands for $2,558 a tonne in London on Thursday. Tin has added 63% to $21,750 from its January lows while nickel at $11,810 is up 53% after hitting multi-year lows in February. Aluminum's rise has been less spectacular but the metal is also firmly in bull market territory with a 24% rise since hitting multi-year lows in November last year.