- January 31, 2020
- Posted in LOCAL
Gold prices rose on Thursday as worries about the economic impact from a fast-spreading coronavirus in China improved the metal’s safe-haven appeal.
Spot gold rose 0,3 percent to $1 581,75 per ounce by 0744 GMT and US gold futures gained 0,7 percent to $1 580,90.
Gold gained 0,7 percent on Wednesday after the US Federal Reserve held interest rates steady and Chair Jerome Powell said the central bank was not satisfied with inflation running below 2 percent. Powell acknowledged the risks of any short-term slowdown in China due to the virus, which has claimed 170 lives so far. The World Health Organisation (WHO) will reconvene on Thursday to decide whether the epidemic constitutes a global emergency. — Reuters.