Gold rises 1% as virus risks boost rate-cut hopes

Gold rises 1% as virus risks boost rate-cut hopes

The Edge Markets - World·2020-03-02 12:30

(March 2): Gold rose more than 1% on Monday, recouping losses from a steep slide in the previous session, amid the fast-spreading coronavirus and hopes for a rate cut by the US Fed.

Spot gold gained 0.9% to US$1,599.15 per ounce as of 0401 GMT, having risen over 1% earlier in the session. US gold futures rose 2.2% to US$1,601.20.

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