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Gold Steadies as Countries Plan Stimulus Measures


Monday, 17 February 2020 12:48 WIB

GOLDEMAS


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Gold was little changed as investors weighed plans by countries hit by the coronavirus to shore up their economies amid differing assessments of the rate of infections.

Spot gold little changed at $1,583.03/oz at 1:09pm in Singapore; +0.5% on Friday. Price +0.9% last week. Bloomberg Dollar Spot Index steady.

China, Hong Kong and Singapore are pledging extra stimulus to counter the outbreak’s impact on growth. While the head of a hospital in the city of Wuhan said a turning point has been reached as new cases fell over the weekend, the outlook was more cautious outside the country. The head of the U.S. National Institute of Allergy and Infectious Diseases said the outbreak is on the verge of a global pandemic if containment steps fail to show more success.

Source : Bloomberg


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