Gold prices slipped for the second day in a row on Friday in Asia despite a continued meltdown in global stocks.
Gold Futures for April delivery slipped 0.1% to $1,640.70 by 12:40 AM ET (04:40 GMT).
Gold prices gave up some of its earlier gains this week as traders booked profit as the yellow metal traded a seven-year high.
Despite the pause, many expect the yellow metal to regain the steam that took it to seven-year highs of nearly $1,700 an ounce shortly.
Asian markets traded sharply lower today, with Japanese and Chinese stocks plunging more than 4%. The World Health Organization said Thursday that the coronavirus outbreak has the potential to become a pandemic and is at a decisive stage.