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Gold Climbs as Trump Comments Fail to Ease Virus Fears


Thursday, 27 February 2020 08:39 WIB

GOLD


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Gold rose for the seventh time in eight days as investors continued to weigh the impact of the coronavirus outbreak, with comments by the Trump administration failing to allay concerns about the disease.

More cases were reported in countries other than China in the past 24 hours for the first time, the World Health Organization said, with new infections in nations from Pakistan to Brazil. President Donald Trump assured Americans that they face little risk, although his health-services chief cautioned that the virus has the potential to change quickly.

Spot gold as much as +0.4% to $1,648.10/oz, and was at $1,646.99 at 9:18am in Singapore. Metal +0.4% Wednesday; hit $1,689.31 on Monday, the highest level since 2013.

Bloomberg Dollar Spot Index steady after +0.2% Wednesday.

Other precious metals: Silver +0.5% to $18.0043/oz. Platinum little changed at $914.48/oz after a 5-day slump to the lowest level in more than two months. Palladium as much as 1.9% to $2,833.77/oz, near a record of $2,849.61 hit last week.

Source: Bloomberg


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