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Gold Eases From 7-Year Peak as China Bids to Cushion Virus Impact


Thursday, 20 February 2020 12:53 WIB

GOLDEMAS


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Gold prices fell slightly on Thursday, after hitting their highest since March 2013 in the previous session, as Chinese stimulus measures to cushion the economic impact of the coronavirus outbreak stoked investors to opt for riskier assets.

Spot gold was down 0.1% at $1,609.59 per ounce, as of 0253 GMT. Bullion rose to an intraday high of $1,612.62 in the previous session, the highest since March 25, 2013. U.S. gold futures were flat at $1,612.20.

China’s central Hubei province had 349 new confirmed cases of coronavirus on Wednesday, the province’s health commission said, down from 1,693 a day earlier and the lowest since Jan. 25, although it was accompanied by a change in methodology.

Source : Reuters


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