Gold gains on coronavirus risks, but rise in equity market caps gains

Topics Gold Prices | Coronavirus

Gold edged up on Thursday on safe-haven buying fuelled by worries about the fast-spreading coronavirus, but a rise in equity markets limited bullion's gains. Spot gold inched 0.2 per cent higher to $1,638.70 per ounce by 0451 GMT.

US gold futures were down 0.2 per cent at $1,639.50. "When we see support for both gold and the dollar, it's an indication of safe-haven desire from investors," said Michael McCarthy, chief market strategist at CMC Markets. The dollar recovered following recent declines, finding support.....

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