Gold prices held steady above the key $1,600 mark on Wednesday as an uptick in equities due to a drop in new virus cases was kept in check by fears about the economic fallout of the epidemic.
Autocatalyst metal palladium, meanwhile, scaled yet another record peak on a sustained supply shortfall.
Spot gold was little changed at $1,601.77 per ounce by 0244 GMT. In the previous session, bullion prices surged 1.3% to their highest since Jan. 8 at $1,605.10.
U.S. gold futures were up 0.1% to $1,604.80.
The increase in the number of new virus cases slowed in China’s Hubei province even as the death toll rose by 132 as of Tuesday.
Source : Reuters