Unlike most of the world, gold investors got it right when it came time to betting on the Brexit vote. They were rewarded with a world-beating rally.

Gold’s surge shows the metal is delivering on its role as a refuge, with prices on Friday posting the biggest increase of any major global asset. The gains added to what’s already been a stellar 2016 for bullion. Futures are heading for the best start to a year since 1979. Speculation that the Federal Reserve will keep U.S. interest rates low has boosted demand for the metal as a store of value, while a volatile geopolitical backdrop has increased haven buying.