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Gold Rises on Rising Business Impact of Virus Outbreak

Tuesday, 18 February 2020 17:37 WIB

GOLDEMAS

Gold prices rose to a two-week high on Tuesday, spurred by demand for safe-havens after iPhone maker Apple Inc's revenue warning underscored the financial fallout of the coronavirus epidemic in China.

Spot gold was up 0.4% at $1,586.93 per ounce by 07:17 GMT. Earlier in the session, prices touched their highest since Feb. 3 at $1,587.40.

U.S. gold futures inched up 0.2% to $1,590.

Apple has cut revenue forecast for the March quarter on the disruption in China due to the virus and weaker demand from the Chinese market, leading to a risk-off sentiment in the market, she said.

Source : Reuters

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