Gold, only safe haven in town amid coronavirus outbreak, expected hit record high this year
Yahoo Finance - Gold rose 4.8 per cent in January to hit a seven-year high on Friday, as investors sought out the safe-haven asset amid the coronavirus outbreak, a trend that will support its price this year, analysts said. Even after a retreat this week, it was up 4 per cent year to date on Wednesday.
Internationally, gold traded at US$1,557.80 an ounce on Wednesday, having hit US$1,589.8 on Friday, its strongest level since April 2013. Its year-to-date rise follows an 18 per cent rally in 2019 as a whole.