Gold gained on Thursday after a sharp rise in new coronavirus cases and deaths in China dampened risk sentiment, prompting investors to buy the metal.
Spot gold was up 0.4% to $1,571.70 per ounce. U.S. gold futures gained 0.3% to $1,576.90.
After reports of a decline in new coronavirus cases, China said there had been a record rise in deaths and cases under a new diagnostic method, a potential threat to the global economic outlook.
A rally in stock markets reversed after health officials in Hubei reported 242 people had died from the virus on Wednesday, the fastest daily rise so far.
Source : Reuters