Gold prices were climbing on Friday, as lingering anxiety about the ballooning U.S. debt burden sent investors flocking to safe havens.

Gold futures rose 1% to $3,329 per Troy ounce in early trading, leaving the precious metal about 5% short of the record high it hit last month.

The price tends to rise in times of uncertainty because it's seen as a haven that won't lose its value. Right now, the market is on edge about President Donald Trump's signature tax bill, which some worry could cause the U.S. deficit to carry on ballooning