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Gold prices rose yesterday as investors sold equities and sought the safety of bullion after a sharp jump in the death toll and infections from a coronavirus epidemic in China.

Spot gold was up 0,4 percent at $1 571.23 per ounce by 0056 GMT. US gold futures edged higher by 0,2 percent to $1 574.90.

The Chinese province of Hubei, the epicentre of the coronavirus outbreak, reported a record rise in the death toll yesterday, as global health experts warned the epidemic could get far worse before it is brought under control. The 14 840 new virus cases reported in Hubei alone yesterday, dwarfing the 2 015 new confirmed cases reported in mainland China the previous day, after officials said they had adopted a new methodology for counting infections.

Asian stock markets ticked lower as the number of new coronavirus cases at the outbreak’s epicentre jumped sharply. — Reuters.