HOT OFF THE WIRE

Gold price at seven-year high on coronavirus fears

Gold price at seven-year high on coronavirus fears

  • 24 February 2020
  • comments
Related Topics
  • Coronavirus outbreak
Image copyright AFP

The price of gold has surged to its highest level in seven years as worries about the coronavirus led investors to seek a safe place for their money.

Gold prices climbed more than 2% on Monday to levels not seen since February 2013.

The price for immediate delivery went as high as $1,678.58 an ounce before falling back slightly.

Meanwhile, stock markets in Europe opened lower, with London's FTSE 100 down more than 3% in early trading.