China Coronavirus deaths toll tops 1,000 as investors seek safety on safe-haven gold


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China Coronavirus deaths toll tops 1,000 as investors seek safety on safe-haven gold

On Monday, the 10th of February 2020, a gauge of global money markets had witnessed another flight-to-safety response following reveal of a media headline that the coronavirus death toll in China had exceeded 1,000 people, while latest WHO (World Health Organization) comment that the spread of coronavirus infection cases outside China could have been the tip of the iceberg adding the human race must get hold of the epidemic outbreak, which eventually had heightened up safe-haven appeal of the precious metal further.

In point of fact, Monday (February 10th) had witnessed 103 deaths due to coronavirus in China, the highest so far in a single day following 91 deaths on Sunday (February 9th), while more than 42,000 people in China were diagnosed with the coronavirus alongside 319 people in other 24 countries.

Amid such extent of mayhem, investors across the globe remained at the edge with the American dollar spiking to a fresh four-month peak on Monday (February 10th) and gold futures’ prices gained for the fourth consecutive day in a row.

Quoting statistics, on Monday’s (February 10th) market wrap-up, spot-gold futures’ prices ended up the day 0.11 per cent higher to $1571.90 an ounce after hitting an intra-day high of $1576.98 per ounce, still hovering near its fresh seven-year peak of $1611.57 clocked on January 8th 2020.