Gold edged lower on Friday as investors sought details on the severity of the China virus after the World Health Organisation stopped short of announcing the outbreak as a global emergency.
Spot gold fell 0.2% to $1,559.28 per ounce by 0748 GMT, but was on track to gain 0.2% for the week. U.S. gold futures slipped 0.4% to $1,559.30.
Asian shares inched higher following the WHO statement on Thursday that the new China virus does not yet constitute an international emergency.
Gold prices finish higher on Friday, ending at the highest settlement in about three weeks as a viral outbreak originating out of China continued to grow.
February gold closed $6.50, or 0.4%, higher at $1,571.90 an ounce on Comex. The metal also marked a weekly gain of 0.4%.
China has moved to restrict movement of some 46 million people in and out of cities near the center of the outbreak, while also canceling Lunar New Year events as the number of infections continued to rise.
Gold edged lower Friday as traders assessed the severity of a viral outbreak originating out of China a day after the World Health Organization said it was too early to declare a global emergency.
Gold for February delivery on Comex fell $5.10, or 0.3%, to $1,560.30 an ounce, while March silver was up 13.1 cents, or 0.7%, at $17.96 an ounce.
The yellow metal saw its highest close in more than two weeks on Thursday as the spread of the coronavirus triggered a selloff in global equities and...
Oil posted its worst week since May as the coronavirus outbreak continues to pressure prices.
A slowdown in China's economy would impact demand because China is the world's largest crude oil importer, after importing a record 10.12 million barrels per day in 2019, according to data from the General Administration of Customs. China is also the second-largest oil consumer, behind the United States.
On Friday, U.S. West Texas Intermediate crude futures fell 2.5%, or $1.40, to settle at $54.19....
U.S. stock-index futures were gaining modestly on Friday, with equity benchmarks set to end the week mostly higher, despite anxieties around a fast-moving Asia flu outbreak that has seen death tolls rise in China.
The Dow industrials was poised to open Friday trade with positive gains on the back of a surge in shares of Intel Corp., following quarterly results from the blue-chip technology giant late Thursday.
Futures on the Dow Jones Industrial Average were last up 69 points, or 0.2%, at...