Gold prices rose to their highest in more than two weeks on Monday as equities slipped on growing concerns that a China virus outbreak could impact that nation’s economy, prompting investors to drop riskier assets and look for safe havens.

Spot gold climbed 0.5% to $1,577.93 per ounce by 0743 GMT. Earlier in the session, prices rose as much as 1% to their highest since Jan. 8 at $1,586.42.

U.S. gold futures rose 0.3% to $1,576.50.

Asian stocks slipped as the coronavirus killed 81 people and infected more than 2,700 in China, with residents of Hubei province, where the disease originated, banned from entering Hong Kong amid global efforts to halt the rapid spread.

Source : Reuters