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Gold logs highest finish in over 6 years as China virus fears fuel market unease

MarketWatch - Gold prices on Monday tallied their highest finish in more than six years, as fears of the economic impact of a fast-moving viral outbreak hurt appetite for stocks and powered buying in assets perceived as havens.

“After almost three weeks of consolidation, gold has now pushed higher on risk-aversion as the Coronavirus position worsens and the markets move away from risk,” said Rhona O’Connell, head of market analysis for EMEA & Asia at INTL FCStone, in a daily note. “The $1,590 level has come into view and resistance stands at $1,600.”

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