Spot gold jumped as much as 1.1% to $1,588.68/oz as investors sought a haven amid growing fears over the spread of the coronavirus around the world.
Trades 0.7% higher at $1,582.96 at 7:54am in Singapore; rose 0.9% last week.
Stock futures and crude oil tumble as investors are spooked by the impact of the virus; Treasury futures climb.
Source : Bloomberg
Oil tumbled as the market opened in Asia on fears China's deadly coronavirus will crimp energy demand, prompting Saudi Arabia to say it was closely monitoring the situation.
Futures in London and New York plunged more than 3% in early trading as the death toll from the outbreak in China rose and as officials extended the Lunar New Year holiday to help stem the spread of the outbreak. While Goldman Sachs Group Inc. predicted last week that global oil demand may take a hit, Saudi...
Gold is well supported and has room to run higher this week as analysts point to the Federal Reserve meeting and the spread of the new corona virus as the two key issues to keep an eye on.
The yellow metal battled against risk-on sentiment last week but managed to hold above $1,550 an ounce level and even rise about 0.8% on the week. February Comex gold futures were last trading at $1,572.40, up 0.45% on the day.
This week, analysts are keeping a close eye on the Federal Reserve interest...
The yen rose and the yuan fell in offshore trade on Monday as worries that China is struggling to contain the spread of a pneumonia-like virus sparked a bout of risk aversion.
Japan's currency, often sought as a safe-haven in times of uncertainty, rose to the highest in almost three weeks versus the dollar, while the yuan fell to its lowest since Jan. 8.
China's cabinet announced it will extend the Lunar New Year holidays to Feb. 2, to strengthen the prevention and control of the new...
Tokyo's key Nikkei index dropped more than two percent at the open on Monday on concerns over the potential impact of a new coronavirus that has killed 80 people in China.
The benchmark Nikkei 225 index lost 2.04 percent, or 486.13 points, to 23,341.05 in early trade, while the broader Topix index fell 1.84 percent, or 31.77 points, to 1,698.67.
Source : AFP