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The price of gold is rising once again as concerns about the health of the U.S. economy drive the precious metal's appeal as a safe haven asset.

Gold is up over 1% in early trading on Nov. 19 and trading at $4,115.00 U.S. per ounce as central banks and individual investors turn back to the yellow metal.

Signs of labour market weakness in the U.S. and the release of economic data in America again now that the government shutdown has ended has markets on edge.

Stretched fiscal spending in Japan is also leading investors back to gold, say analysts.

A spike in Japanese government bond yields, especially longer-term notes, sparked heightened concerns over stretched fiscal spending in the country, and the ability to fund future spending.

Gold's price is also getting a boost from Wall Street traders who are seeking shelter amid a broad selloff in stocks amid concerns over high valuations.

Upcoming earnings from artificial intelligence (A.I.) leader Nvidia (NASDAQ: $NVDA ) is expected to accelerate the market volatility, which could lead to even higher prices for gold.

Other precious metals are also up on Nov. 19, with platinum's price rising 0.9% and silver gaining 1.3% on the day.

Gold's price last hit an all-time high of $4,379.13 U.S. per ounce on Oct. 17 of this year.