Gold Price Rises to a Near Six-Year High
1/27/2020 12:07:50 PM
On Monday, Gold prices headed to a more than six-year high, as fears of the economic impact of a fast-moving viral outbreak hurt appetite for stocks and fueled the increase of haven assets. The coronavirus, which originated in Wuhan City, China, has infected nearly 3,000 people and killed at least 80, prompting Beijing to extend the annual Lunar New Year holiday by two days to February 2 to contain the spread. In the U.S., the number of domestic cases hit five, according to the Center for Disease Control and Prevention. Gains for bullion are putting the yellow Precious Metal on track to top its highest peak since 2013, according to FactSet data.