ADVERTISEMENT
Gold Rockets Toward $1,700 as Virus Concerns Ratchet Higher
Spot bullion as much as +2.2% to $1,679.70 an ounce, the highest price since Feb. 2013.
24 Feb 2020, 03:24 PM IST 
Gold casting grain is sorted through a sieve at the JSC Krastsvetmet non-ferrous metals plant in Krasnoyarsk, Russia. (Photographer: Andrey Rudakov/Bloomberg)
(Bloomberg) -- Spot bullion as much as +2.2% to $1,679.70 an ounce, the highest price since Feb. 2013, amid growing concern that the coronavirus will harm global growth.
- Last week, gold +3.8% as investors sought a haven from escalating virus fears
- READ: Funds In Record Gold Bet as Investors Buy ‘With Three Hands’
- READ: Hong Kong’S Warning; Italy Cancels Carnival: Virus Update
- READ: U.S. Stock Futures Slide as Virus Concern Grows: Markets Wrap
- Bullion trades +1.4% at $1,665.94/oz at 7:25am in Singapore
To contact the reporter on this story: Alexander Kwiatkowski in Singapore at akwiatkowsk2@bloomberg.net
To contact the editors responsible for this story: Will Kennedy at wkennedy3@bloomberg.net, Jake Lloyd-Smith
©2020 Bloomberg L.P.