Gold rises in price, the market estimates the economic damage from the coronavirus

Today, Gold quotes rose to a week maximum, reaching $ 1,580 per troy ounce. The precious metal is getting more expensive as rising concerns about the effects of Chinese coronavirus have increased the attractiveness of defensive assets.

The number of coronavirus victims on Sunday increased by 97 and exceeded 900 people. Thus, more people have already died from the new virus than from SARS almost two decades ago.

Gold also gained support as the dollar moved away from a four-month high versus a basket of major currencies.