PRECIOUS-Gold gains on rise in Chinese coronavirus cases
* Dollar eases from four-month high, stocks falter
* Coronavirus death toll surges to daily record 242 in Hubei
* Palladium deficit expected in 2020 - Johnson Matthey
By Sumita Layek
Feb 13 (Reuters) - Gold gained on Thursday after a sharp
rise in new coronavirus cases and deaths in China dampened risk
sentiment, prompting investors to buy the metal.
Spot gold was up 0.6% at $1,574.50 per ounce at 1250
GMT and U.S. gold futures were 0.4% higher at $1,577.70.
"This spike in the numbers has just knocked the wind out of
the sizeable bet...So, we are seeing risk markets cool off and
gold is catching some bids," OANDA analyst Craig Erlam said.
After reports of a decline in new coronavirus cases, China
said there had been a record rise in deaths and cases under a
new diagnostic method, a potential threat to the global economicRead More
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Established in February 2008, Sprott Money Ltd. is a leading precious metals wholesale, institutional and retail dealer selling gold, silver and platinum bars, coins and wafers online and over the phone. Sprott Money's storage program gives clients the ability to store their precious metals in multiple storage facilities located in Canada, the United States and internationally. Sprott Money Blog, which covers world events, geopolitics and of course precious metals.
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