27/01/2020
Gold prices rose to their highest level in more than two weeks today, Monday, with shares declining due to growing fears that the spread of the new Coronavirus could affect the Chinese economy, prompting investors to get rid of high-risk assets and seek safe havens.
Gold rose 0.6 percent in the immediate transaction to $ 1579.42 an ounce (an ounce) by 0633 GMT. Earlier in the session, the price of gold reached its highest level since January 8, recording $ 1,586.42.
US gold futures rose 0.5 percent to $ 1,579.50.
Asian stocks fell after the number of deaths caused by infection with the new Coronavirus rose to 81, while the number of infection cases exceeded 2700 in China, and residents of Hubei Province, where the disease first appeared, were prevented from entering Hong Kong as part of global efforts to stop the spread of the disease. The yen gained on concerns about the difficulties Chinese authorities face in containing the outbreak.
Investors are now awaiting the first meeting of the US Federal Reserve on policy in the new year scheduled for January 28-29, when interest rates are widely expected to remain unchanged.
For other precious metals, silver rose 0.4 percent to $ 18.16 and earlier touched its highest level since January 8 and recorded $ 18.32.
Palladium fell 1.7 percent to 2387.19 dollars an ounce, and platinum fell 0.5 percent to 996.15 dollars.
