Gold prices edged higher but were buoyed as riskier assets sold off following news of a new virus hitting China (Coronavirus) . The last time the world saw this kind of virus in Asia, known as SARS, gold prices rallied more than 27% over the next 12-months from March 2003 to March 2004.
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The spread of a new illness that can be pass from person to person hammered Asian stock prices helping to buoy gold.
The first case of the coronavirus originating in China can be confirmed in Washington State. The BOJ had its monetary policy decision keeping rates unchanged.