Gold Parades Haven Status With Rally to Highest Close Since ‘13
- Bullion demand rises as China grapples with coronavirus crisis
- Flight to safety aids prices while industrial commodities drop
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Gold is once again showcasing its long-standing reputation as an effective haven in troubled times, trading near the highest close in more than six years on rising concern over the economic and human impact of China’s deadly coronavirus. Miners’ shares advanced.
Bullion was steady after surging Monday as investors weighed the fallout from the spread of the disease, with Germany seeing its first case. As the death toll in China topped 100 and the number of cases soared, the director-general of the World Health Organization is visiting Beijing to assess the response.