Feb 13 (Reuters) - Gold prices rose on Thursday 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.
FUNDAMENTALS
* Spot gold XAU= was up 0.4% at $1,571.23 per ounce by
0056 GMT. U.S. gold futures GCv1 edged higher by 0.2% to
$1,574.90.
* The Chinese province of Hubei, the epicentre of the
coronavirus outbreak, reported a record rise in the death toll
on Thursday, 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 on
Thursday, 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.
MKTS/GLOB
* The yen rose from a three-week low against the dollar,
while the dollar held near a four-month peak. USD/
* U.S. Treasury Secretary Steven Mnuchin said on Wednesday
that the negative economic impact from the virus outbreak is a
one-time event that will not last beyond 2020. * U.S. Federal Reserve Chair Jerome Powell on Wednesday
reiterated his confidence in the U.S. economic outlook, even as
he said he expected some drag "soon" from China's new
coronavirus epidemic. * The Belarusian central bank said on Wednesday it expected
the country's gold and foreign exchange reserves to fall
slightly in 2020, but that they would remain above an official
forecast of $7.3 billion. * Canadian miner Kinross Gold Corp K.TO reported a
better-than-expected quarterly profit on Wednesday, helped by
record output at its third biggest mine, Tasiast, and higher
gold prices. * Gold Fields GFIJ.J on Wednesday reported a jump in 2019
profit as the South African miner benefited from increased gold
production and a higher gold prices. * Palladium XPD= fell 0.8% to $2,384.69 an ounce, silver
XAG= rose 0.5% to $17.55, and platinum XPT= shed 0.1% to
$960.40.
DATA/EVENTS AHEAD (GMT)
0800 Germany HICP Final YY Jan
1330 US CPI MM, SA Jan
1330 US Initial Jobless Claims weekly