Gold Passes $1,700

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Gold price reaches new highs. Gold prices surged beyond the $1,700 per ounce level for the first time since 2012 on Monday, as a coronavirus outbreak and a plunge in crude oil hammered equities and sent investors looking for safe havens.

Highlights (via: Reuters):

* Spot gold XAU= rose 1.5% to $1,699.20 per ounce by 0054 GMT, having touched its highest since December 2012 at $1,702.45 earlier in the session.

* U.S. gold futures GCv1 jumped 1.6% to $1,699.70 per ounce.

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