Gold hits seven-year high as virus sends traders in search of safety
Italy quarantines a quarter of its population and Chinese trade data is much worse than expected
09 March 2020 - 07:40
Bengaluru — Gold prices rose above the $1,700 per ounce level on Monday for the first time in more than seven years, after a stock market rout due to concerns over a widening coronavirus outbreak and its economic impact drove investors towards safe-haven assets.
Spot gold rose 0.7% to $1,686.22 per ounce by 5.25am, having touched its highest since December 2012 at $1,702.56 earlier in the session. US gold futures gained 0.9% to $1,687.80 per ounce...
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