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