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Gold rises to over 2-week high as China virus spreads

Monday, January 27, 2020, 8:26 AM

Gold prices climbed to a more than two-week high on Monday as rising concerns over the spread of a virus outbreak in China and its potential economic impact prompted investors to buy the safe-haven metal. Spot gold rose to its highest since Jan. 8 at $1,586.42 and was up 0.6% at $1,579.94/ounce by 0131 GMT. US gold futures advanced 0.5% to $1,579.50.