Gold futures settled at a more than two-week high on Thursday, as worries surrounding the spread of the coronavirus led to weakness in the U.S. stock market and a fall in bond yields, lifting the haven appeal of the precious metal.
"Appetite towards the precious metal should remain supported by growing fears over the coronavirus outbreak in China," said Lukman Otunuga, senior research analyst at FXTM. "The general uncertainty is likely to accelerate the flight to safety with gold seen testing...
Hong Kong equities closed sharply lower on Thursday as investors took flight over the deadly SARS -like virus that has spread from China.
The Hang Seng Index fell 1.52 percent, or 431.92 points, to end at 27,909.12.
The benchmark Shanghai Composite Index losing 2.75 percent, or 84.23 points, to close at 2,976.53, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, tumbled 3.45 percent, or 62.79 points, to 1,756.82 at the finish.
Source : AFP
Gold eased on Thursday as investors booked profits from recent rallies but held above the $1,550 technical support level on continuing low interest rates and a drop in risk appetite.
Spot gold was down 0.3% at $1,554.24 an ounce. U.S. gold futures fell 0.2% to $1,553.80.
Gold broke above the psychological barrier of $1,500 an ounce in late December on uncertainty surrounding the U.S.-China trade deal and the global economy.
Bullion climbed further to a near-seven-year peak of $1,610.90 on...
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.
Oil futures fell sharply on Thursday, sending U.S. prices to their lowest settlement since late November, as the spread of coronavirus raised worries about the global economy and energy demand.
"All markets are watching the situation with China" and the coronavirus, said Tariq Zahir, managing member at Tyche Capital Advisors. "Energy markets could see a rather [large] impact on demand, especially if this virus gets worse."
March West Texas Intermediate oil fell $1.15, or 2%, to settle at...