Gold Recovers Slightly After Taking A Plunge – 4 February, 2020

As the death toll from the coronavirus reached just below 500, gold prices took a steep dive before recovering slightly. Spot gold prices shed roughly 1.5% to $1,548.70 per ounce, their lowest since January 21. Prices managed to bounce back 0.2% to $1,555.41 per ounce, while U.S. gold futures also rose by 0.2% to $1,558.40. The death toll from the coronavirus in China rose to 479, with it claiming its first life in Hong Kong earlier in the day. Fears of the virus spreading put a delay on U.S. exports to China after a phase 1 trade agreement was reached between the worlds two biggest economies.