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W resources plc

Gold gains as pandemic fears hit risk appetite

Gold prices rose on Wednesday, heading back towards a more-than seven-year high hit earlier this week, as a warning from the United States over the domestic spread of the coronavirus outbreak rattled global markets, supporting safe-haven demand.


Spot gold was up 0.5 per cent at $1,643.49 per ounce, as of 0124 GMT, after having slumped as much as 1.9 per cent in the previous session. On Monday, prices touched $1,688.66, their highest in more than seven years.

W Resources Plc (LON:WRES) engages in the exploration and development of tungsten, tin and gold properties.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.