Gold rises on coronavirus epidemic fears

Pedro Gonçalves
clock • 1 min read

Gold prices rose this Wednesday as safe-haven demand was boosted by worries over a fast-spreading coronavirus outbreak in China. Internationally, gold traded at $1,557.80 an ounce on Wednesday, having hit $1,589.8 on Friday, its strongest level since April 2013. Its year-to-date rise follows an 18% rally in 2019 as a whole. "There's an increase in demand [for gold] because of flight to safety with the coronavirus and concerns about [economic] growth," John Sharma, economist at National Australia Bank (NAB) told Reuters. "We are still witnessing deaths and quarantine problems. As lo...

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