Gold crept higher even as risk-assets including equities found a firmer tone, with investors mulling the impact of global policy responses to the coronavirus outbreak.

Asian stocks extended a global rally amid a raft of measures to fight the growing health crisis and support economies. U.S. lawmakers approved about $8 billion in spending for virus prevention, while the Bank of Canada cut rates and Australia's finance minister said stimulus measures were coming.

Bullion's 30-day volatility has eased since touching its highest since March 2016 this week after the Federal Reserve unveiled an emergency rate cut.

Spot gold as much as +0.2% to $1,640.89/oz and trades at $1,639.22/oz at 9:45am in Shanghai. Metal +8.1% this year. Price hit $1,689.31 on Feb. 24, the highest level since 2013.

Source : Bloomberg