Gold tops US$1,600 as virus fuels global growth fears

Gold is trading near the highest level since 2013 on concerns over the spread of the new coronavirus and how it’s impacting global growth.

SINGAPORE: Palladium surged above US$2,800 an ounce, extending its record-breaking rally on forecasts for a widening deficit.

Gold is trading near the highest level since 2013 on concerns over the spread of the new coronavirus and how it’s impacting global growth.

The metal used in catalytic converters is already up more than 40% in 2020 on expectations stricter environmental standards will spur higher loadings of the material in cars, draining global supply that’s already struggling to meet demand.