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Gold Hits New 7-Year High as Virus Prompts More Upgrades


Friday, 21 February 2020 20:18 WIB

GOLDEMAS


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Gold prices surged to fresh seven-year highs as portfolio investors flocked to haven assets as the coronavirus spread menacingly outside of China.

The number of confirmed cases in South Korea leaped to over 200, putting investors on alert for signs that the virus may be difficult to contain even in countries with advanced health care systems (and reliable data).

By 7:45 AM ET (1245 GMT), gold futures for delivery on the Comex exchange were up 1.1% at $1637,65 a troy ounce, only a whisker below the intraday high of $1,639.25. Spot gold was up 1.0% at $1,635.17. It's now up 7.8% for the year to date.

Source : Investing.com


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