LONDON: Gold rose to a near one-week high on Monday as mounting concerns about the impact of China`s coronavirus lifted the appeal of safe-haven assets, af ter the number of casualties exceeded 900.
Spot gold was up 0.2 per cent at $1,572.88 per ounce by 1304 GMT, having hit its highest since Feb 4 at $1,576.21 earlier in the session. US gold futures were 0.2pc higher at $1,575.80.
Global shares fell as the death toll from the outbreak exceeded the SARS epidemic of nearly two decades ago, weighing on risk sentiment.
Bullion is considered a safe asset in times of political and economic turmoil.
Palladium gained 2.2pc to $2,366.62 an ounce, silver rose 0.6pc to $17.78 and platinum was up 0.7 to $971.16.
