Gold prices rose on Thursday as concern over the coronavirus and its impact on the global economy drove buying in the safe-haven asset and outweighed news of lower Chinese tariffs that are likely to ease trade tensions with the United States.

Spot gold gained 0.6% to $1,565.06 per ounce as of 1252 GMT, having dropped on Wednesday to its lowest since Jan. 21 at $1,546.90. U.S. gold futures rose 0.4% to $1,569.00.

Elsewhere, palladium fell 0.7% to $2,415.70, while silver rose 1% to $17.77.

Platinum eased by 0.6% to $975.51 after touching a one-week high of $987.60.

Source: CNBC