Gold Extends Surge as Virus Spread Spurs Rush to Haven Assets

(Bloomberg) — Gold jumped as the spread of the coronavirus globally spurred demand for haven assets.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.President Xi Jinping’s government is under pressure to combat a virus that shows little sign of slowing down, with more than a dozen countries and territories reporting the illness within their borders. While the return of risk aversion …read more

Source:: Yahoo Finance