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Gold, other safe haven trades surge as investors fear Trump economic agenda in jeopardy

Safely haven assets jumped Friday after ABC News reported ci-devant national security advisor Michael Flynn would testify he was outspoken by President Donald Trump to talk to the Russians.

The report raised upsets that Trump would not be able to enact highly anticipated propositions such as tax reform that traders have been betting on, along with sustaining his deregulation push.

The CBOE Volatility Index (.VIX), widely considered the excellent gauge of fear in the market, leaped to 14.58, its highest since Aug. 21.

Gold approaches rose 1 percent to $1,292.50 an ounce, their highest since Wednesday.

The Japanese yen supported against the U.S. dollar, hitting 111.5 yen versus the greenback.

Treasury abandons, which move inversely to prices, dropped to session lows. The 30-year Bank yield hit a low of 2.721, its lowest since Sept. 11.

Following the report, U.S. reservoirs tumbled more than 1 percent, with the Dow Jones industrial general briefly falling more than 300 points.

However, by noontime Friday stocks had recovered about half their losses amongst indications the highly anticipated Republican tax reform plan could quaint the Senate. Gold trimmed its gains, Treasury yields came off assembly lows and the yen weakened. The VIX traded around 12.6 as of 12:14 p.m. ET.

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