Gold at over 1-week high as China virus infections jump

Thursday, 13. February 2020 19:53

Prices of gold rose to the highest level in over a week on Thursday as investors flocked to safe-haven assets amid a sharp increase in the number of people who contracted and died from the novel coronavirus.

According to the latest official figures, the death toll rose to 1,370, whereas the number of infected topped 60,300. However, the US government believes China is not reporting the real figures, unnamed sources in the White House claimed earlier.

Gold traded 0.57% in the green, going for 1,576.09 per ounce at 1:48 pm ET, the level unseen since February 4.

Meanwhile, the rest of the precious metals also traded with gains, as silver went up 0.95% to sell for $17.66 per ounce at 1:49 pm ET, whereas platinum and palladium added 0.66% and 1.56%, respectively, changing hands for $970.46 and $2,434.16 an ounce at 1:50 pm ET.

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