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Gold Holds Steady Amid Virus Concerns

Gold prices held steady on Friday as risk sentiment improved a little bit on hopes of global measures to soften the impact of the coronavirus outbreak.

Both spot gold and U.S. gold futures were marginally higher at $1,578.95 per ounce and $1,578.85, respectively.

The death toll from coronavirus epidemic rose to 1,483 in China, but the number of new infections in hard-hit Hubei province fell.

Nearly 64,000 people are now recorded as having been made ill by the virus in China, with the last two days showing a steep rise after a change in diagnostic methods.

The World Health Organization said there was no major shift in the coronavirus's pattern of mortality or severity, despite a dramatic increase in Hubei province.

Meanwhile, on the trade front, the United States and China have lowered tariffs on each other's goods today as part of the "Phase One" trade agreement.

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