Yahoo Finance Gold Prices Steady; Fears of China Virus Epidemic Remain
By Alex Ho
Investing.com - Gold prices were steady on Thursday in Asia as fears over the spread of China’s coronavirus remained.
Gold Futures gained 0.2% to 1,559.80 by 12:34 AM ET (04:34 GMT).
The new flu-like virus has so far claimed 17 lives and infected hundreds, according to data released by China’s government. On Thursday, China announced that it is closing transportation networks in Wuhan, the city at the center of the outbreak, and urge citizens not to leave.
The decision ahead of the Lunar New Year holidays, where hundreds of millions are expected to travel to the country for holidays.
The World Health Organization said it will decide later today whether to declare a global emergency over the outbreak.
Lower export numbers from Japan in December also helped supporting the safe-haven metal today.
The country’s exports fell 6.3% in December from a year earlier, Ministry of Finance data showed on Thursday.
That compared with the expected 4.2% decrease and followed a 7.9% year-on-year decline in the previous month.
Imports fell 4.9% in the year to December, versus the median estimate for a 3.4% decrease. They fell 15.7% in the previous month.
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