Gold prices held steady at a near seven-year high on Friday as nervous investors opted for safe haven assets amid fears about the economic damage from China’s coronavirus epidemic that eclipsed Beijing’s stimulus efforts.
Spot gold was little changed at $1,619.33 per ounce by 0108 GMT. In the previous session, bullion prices had hit a seven-year high at $1,623.45.
U.S. gold futures were up 0.1% to $1,622.60.
Daegu, a city of 2.5 million people in South Korea, has become the latest victim of the virus outside China. The country now has 104 confirmed cases of the flu-like virus and reported its first death.
Source : Reuters