Gold prices rose to a two-week high on Tuesday as a new strain of pneumonia in China stoked fears of a wider epidemic that could hamper economic growth, sparking a sudden bout of risk aversion and sell-off in Asian stocks.
Chinese New Year
Goldman Sounds the China Alarm and Cuts Metals Outlook
Goldman Sachs Group Inc. chopped back its near-term metals forecasts as China’s economy has “decelerated notably,” while balancing that outlook with a prediction mainland policy makers will respond by stoking expansion in the second half, aiding a revival in copper and aluminum.