Gold lifts above $1,700 level as markets crash on Covid-19 fears
‘It's red across the board — all energy is down, all grains are down, all soft commodities are down, all metals are down, with gold the exception’
09 March 2020 - 17:06
Bengaluru — Gold prices rose on Monday, having briefly breached the $1,700/oz level, as a rout in global equities on concern over the economic fallout from the coronavirus epidemic lifted demand for safe-haven assets.
Autocatalyst metal palladium, meanwhile, slid as much as 8% in early trade amid the wider risk-off sentiment. Spot gold rose 0.4% to $1,680.07/oz by 11.36am GMT, having touched its highest since December 2012 at $1,702.56/oz...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.