Gold Near Seven Year High – 20 February, 2020

Uncertainty over economic damage done by the coronavirus has pushed gold prices to a seven year high as investors looked to safe haven assets. After hitting a seven year high of $1,623.45 per ounce the previous session, gold settled slightly lower at $1,619.33 per ounce. U.S. gold futures rose 1% to $1,622.60. After reports of a drop in the spread of the disease, South Korea reported roughly 104 confirmed cases  and one confirmed death. The virus has thus far had a major effect on multiple economies with many countries cutting down deals made with China for fear the disease might spread.