Virus Fears Cause Gold To Rise – 5 March, 2020

Gold prices are on track for their biggest weekly giants in eight years as the future of the global economy continues to be a major topic of concern as the coronavirus rapidly spreads around the world. After already gaining 2% in the previous session, spot gold rose an additional 0.2% to $1,672.80 per ounce, with the precious metal rising roughly 5.5% for the week. U.S. gold futures climbed 0.4% to $1,674.20 per ounce. So far, the virus has claimed 12 lives in the U.S and 53 new cases emerged.