Oil falls and gold rises on news of coronavirus

Gold rises in price this morning on concerns about the spread of the coronavirus outside of China. High the speed of this process carries risks for the global economies, investors say. At 8:46 the cost of a precious metal on the Comex exchange rose 0.48% to $ 1,578.80 per troy ounce. Silver also demonstrates growth, which rose in price by 0.44% to the level of $ 18.192. Oil, on the other hand, showed negative dynamics - for the first time since the beginning of November, it has dropped below $ 60. Brent grade stopped falling and traded at value previous close - $ 59, 89, while earlier in the morning it decreased by 3%. WTI brand lost 2.36%, reaching $ 52.89. Investors prefer to get rid of risky assets, leaning towards buying more reliable. Commenting on the situation in an interview with Reuters, CLSA Analyst Takeo Kamai noted that at the present time it is only heard that about coronavirus, and this news provokes sales on stock exchanges. For example, in Japan, the leading stock indices due to a significant reduction in demand for tourist trips during the Lunar New Year calendar.