Gold climbed for a fourth day as investors weighed the unfolding coronavirus crisis, including a stark warning from the head of the World Health Organization about the potential for more cases beyond China and signs the disease is spreading in the key Asian trading hub of Singapore.
Prices rose as the death toll from the outbreak topped 900 and WHO Director-General Tedros Adhanom Ghebreyesus voiced concern over the spread from people with no travel history to China, saying "we may only be seeing the tip of the iceberg." In Singapore, there are two confirmed cases in the central business district, according to a building manager and separate company.
Spot gold rose as much as 0.4% to $1,576.71 an ounce and traded at $1,573.24 at 8:24 a.m. in London. Prices gained 1.1% in the last three days. The unfolding health emergency has seen holdings in global exchange-traded funds backed by bullion expand to a record.
Among other main precious metals, silver added 0.3%, platinum climbed 0.5% and palladium advanced 1.3%.
Source : Bloomberg