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Gold steadies as virus concerns stall stock markets


Friday, 7 February 2020 20:04 WIB

GOLD


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Gold inched up on Friday as a rally in global stock markets briefly stalled due to worries over the economic impact from the coronavirus, while investors awaited U.S. jobs data for indications on the country’s economic health.

Spot gold was up 0.03% at $1,570.21 per ounce, but was down about 1.3% so far this week, its biggest weekly loss since early November.

A weaker dollar makes greenback-denominated assets, such as gold, cheaper for investors holding other currencies.

Elsewhere, palladium fell 0.2% to $2,341.13 an ounce, but was on track to post its first weekly gain in three.

Silver slipped 0.2% to $17.78 per ounce, set for its worst week in two months, while platinum rose 0.6% to $967.03 per ounce.

Source: CNBC


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