Gold futures climbed on Thursday for a sixth consecutive session to log their highest settlement since February 2013.
"Coronavirus fears magnetized investors towards safe-haven assets," said Lukman Otunuga, senior research analyst at FXTM. "With the virus outbreak fostering uncertainty, unease and anxiety across the board, gold is set to shine through the chaos."
April gold rose $8.70, or 0.5%, to settle at $1,620.50 an ounce.
Gold edged lower on Thursday after China announced more measures to limit the economic impact from coronavirus epidemic, although a rise in number of new cases in South Korea kept bullion close to a near seven-year peak.
Spot gold was down 0.1% at $1,610.31 per ounce. U.S. gold futures rose 0.1% to $1,613.30.
Gold rose to its highest since March 2013 at $1,612.62 in the previous session on concerns of the economic impact of the virus outbreak.
Source : Reuters
Gold traded near a seven-year high on concern that the coronavirus outbreak will retard global growth, coupled with speculation the Federal Reserve will ease monetary policy before the year-end. Palladium held near a record after building on a powerful rally.
Bullion is rising at a time when U.S. stocks are at an all-time high even as traders weigh the global impact of the disease. While Hubei, the province at the center of the outbreak, reported fewer cases after...
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Data from the U.S. Energy Information Administration (EIA) showed that crude inventories rose only 414,000 barrels last week, compared with expectations of a 2.5 million barrel rise from analysts in a Reuters poll.
Brent crude rose 47 cents, or 0.8%, to $59.59 per barrel. The front-month U.S. West...
Gold prices fell slightly on Thursday, after hitting their highest since March 2013 in the previous session, as Chinese stimulus measures to cushion the economic impact of the coronavirus outbreak stoked investors to opt for riskier assets.
Spot gold was down 0.1% at $1,609.59 per ounce, as of 0253 GMT. Bullion rose to an intraday high of $1,612.62 in the previous session, the highest since March 25, 2013. U.S. gold futures were flat at $1,612.20.
China™s central Hubei province had 349 new...