Gold prices inched higher in global markets today as concerns about the impact of coronavirus on global economy continued to stoke the safe-haven demand for the precious metal.

Spot gold rose 0.2% to $1,618.90 per ounce. A strong dollar, which rose to a one-week high today against key rivals, however capped the upside for gold, making the precious metal costlier for investors holding other currencies.

Among other precious metals, platinum rose 2% to $734.82 while silver gained 0.4% to $14.45 in global markets. Back in India, gold prices had surged 1.1% on Friday to ₹43,720 per 10 gram in futures market.

Commodity derivatives markets remain closed today in India due to a holiday. Data released on Friday showed the US economy shed 701,000

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Gold prices today edge higher, silver follows suit

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