Gold at 7-year high as COVID-19 spreads worldwide

Monday, 24. February 2020 08:03

The price of gold rose on Monday to reach a seven-year high in dollars and a fresh all-time high in euros as the coronavirus, which accelerated its spread outside of China, caused fear among the investors, prompting them to turn to safe-haven assets. Meanwhile, European stocks plunged in today's premarket trade over the same concerns. The official data showed that the number of people who died from COVID-19 surpassed 2,600, while almost 80,000 infected cases were registered worldwide.

Spot gold jumped 1.32% at 1:57 am ET, selling for $1,666.15 per ounce. At the same time, silver rose 0.95% to sell for $18.69 per ounce and palladium increased by 0.22% to $2713,52 per ounce.

On the other hand, platinum fell 0.54% a minute later, going for $972.40 per ounce.

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