Gold prices rose to their highest level in a week as investors sought safety, amid concerns about the economic effects of the spreading Corona virus, which is growing in number.
The price of gold in spot transactions was $ 1574.87 an ounce at the end of the trading session, up 0.4 percent from its level at the beginning of the session, after recording earlier its highest level since the fourth of February at $ 1576.76.
And gold rose in US futures contracts 0.4 percent to hit at the settlement $ 1579.50 an ounce.
"There is still a great deal of uncertainty regarding the effect of (the virus) and we are seeing an increase in deaths and injuries. The economic consequences are still not clear. If this is the case, we will still see support," said Michael McCarthy, chief market analyst at CMC Markets. Plausible for gold. "
But he added that January's producer and consumer price rises in China had "slightly damaged" gold.
Among other precious metals, palladium jumped 1.3 percent to $ 2346.20 an ounce, while silver rose 0.7 percent to $ 17.80 an ounce.
Platinum rose 0.3 percent to 961.92 dollars an ounce.
