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Goldplat plc

Gold hits 1-week high as virus fears boost safety demand

Gold rose to its highest in one week on Monday as the death toll from the coronavirus outbreak rose further and investors sought safe havens from the economic impact.

Spot gold was up 0.4% at $1,576.44 per ounce. Its session high was the highest since Feb. 4 at $1,576.21. U.S. gold futures were 0.42% higher at $1,579.90.

“The coronovirus fears continue to see safe-haven inflows heading into gold and that has been positive for prices,” said Daniel Ghali, commodity strategist at TD Securities.

Goldplat plc (LON:GDP) is an AIM-listed, profitable gold recovery services company with two market leading operations in South Africa and Ghana.

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