Fears of the economic consequences of the rampant corona virus in China have driven up investors’ risk aversion and the price of gold to its highest level in two weeks.
As a result, the yellow precious metal is now only just below its highest level in seven years. With the virus problem, the already large number of buying arguments for gold is being further extended. Accordingly, on Monday morning the gold price presented itself with higher quotations. By around 7.50 a.m. (CET) the most actively traded future on gold (February) rose by $6.90 to $1,578.80 per troy ounce.