Gold slipped from a three-week high amid concerns the coronavirus could hurt jewelry sales in China.

There's a risk that Chinese shoppers will buy less gold jewelry, especially if the coronavirus follows a similar path to SARS, according to Suki Cooper, precious metals analyst at Standard Chartered Bank.

Still, investor demand for bullion as a safe haven could offset weaker Asian consumption, Citigroup said.

Spot gold fell 0.6% to $1,579.11 an ounce at 11:23 a.m. in London. Silver sank 1.3% to 17.81 an ounce. Platinum lost 0.6% and palladium slid 0.5%.

Source : Bloomberg