Gold steadied after four straight days of gains as investors continued to weigh the potential economic impact of the spreading coronavirus, with some risk-on sentiment coming back into markets.
Asian equities opened higher Tuesday after U.S. stocks hit a record high. While there were some signs that the outbreak is peaking, fears still linger as the death toll from the coronavirus climbed above 1,000. Investors are trying to figure out whether the rate of contagion is stabilizing, with one estimateputting the mortality rate from the disease at 1%.
Spot gold -0.1% to $1,570.88/oz at 9:46am in Singapore; +1.2% over the last four days.
Source : Bloomberg