Gold falls 1pc

05 Feb 2020

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LONDON: Gold slid more than 1 per cent on Tuesday as Chinese steps to mitigate the economic impact from the coronavirus epidemic drove some investors away from safe havens and back into riskier assets.

Spot gold was down 1.4pc at $1,553.79 per ounce by 1555 GMT, after hitting its lowest since Jan. 22 at $1,550.75. US gold futures fell 1.6pc to $1,557.50.

Among other precious metals, palladium was up 4.2pc at $2,417.50, after touching its highest since Jan. 27 at $2,425.

Published in Dawn, February 5th, 2020