Gold futures finish at their highest in more than 2 weeks

Gold futures finish at their highest in more than 2 weeks

Gold futures settled at a more than two-week high on Thursday, as worries surrounding the spread of the coronavirus led to weakness in the U.S. stock market and a fall in bond yields, lifting the haven appeal of the precious metal. “Appetite towards the precious metal should remain supported by growing fears over the coronavirus outbreak in China,” said Lukman Otunuga, senior research analyst at FXTM. “The general uncertainty is likely to accelerate the flight to safety with gold seen testing $1568 in the short term,” he said. February gold rose $8.70, or 0.6%, to settle at $1,565.40 an ounce. That was the highest most-active contract settlement since Jan. 7, according to FactSet data.

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