Prices rose as much as 1.1% as risk-off sentiment swept markets, with equities tumbling and Treasures gaining. In the latest effort to contain the virus, China extended the week-long Lunar New Year holiday and banned all outgoing overseas group tours to avoid having travelers contribute to its spread. Contracts on the S&P 500 Index fell 1% and Japan’s Topix dropped almost 2%, while oil slumped more than 3%. A key question is the time it will take for the virus to be contained and one can only speculate at this stage." Spot gold traded 0.5% higher at $1,578.75 an ounce at 8:44 a.m. in Hong Kong, extending last week’s advance.

Source: Mint January 27, 2020 01:18 UTC