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 prices hit their highest in seven years on Friday and were set to post their best week in one-and-a-half months, as demand for the safe-heaven asset was boosted by a surge in new coronavirus cases in South Korea.
South Korea reported 52 new cases of the virus, taking the national total to 156, while Japan reported the first fatalities from aboard a cruise ship that accounts for the biggest cluster of infections outside China.
Spot gold rose 0.4% to $1,625.05 per ounce by 0409 GMT, after...
Oil prices rose on Thursday after the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China.
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 surged to fresh seven-year highs as portfolio investors flocked to haven assets as the coronavirus spread menacingly outside of China.
The number of confirmed cases in South Korea leaped to over 200, putting investors on alert for signs that the virus may be difficult to contain even in countries with advanced health care systems (and reliable data).
By 7:45 AM ET (1245 GMT), gold futures for delivery on the Comex exchange were up 1.1% at $1637,65 a troy ounce, only a whisker...
Gold prices held steady at a near seven-year high on Friday as nervous investors opted for safe haven assets amid fears about the economic damage from China™s coronavirus epidemic that eclipsed Beijing™s stimulus efforts.
Spot gold was little changed at $1,619.33 per ounce by 0108 GMT. In the previous session, bullion prices had hit a seven-year high at $1,623.45.
U.S. gold futures were up 0.1% to $1,622.60.
Daegu, a city of 2.5 million people in South Korea, has become the latest...