Gold rose 1% on Friday to its highest in seven years as the spread of the coronavirus intensified concerns about its impact on economic activity and global growth, increasing the metal’s safe-haven appeal.
Spot gold rose 0.9% to $1,633.46 per ounce as of 1027 GMT, after hitting its highest since Feb.14, 2013 at $1,635.98 earlier in the session. U.S. gold futures jumped 1% to $1,636.40.