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Gold pops as virus concerns ignite global stampede

into havens

The stars have aligned for gold as concerns the coronavirus outbreak may damage growth, hurt risk assets and add to pressures for easier monetary policy combine to trigger a powerful global hunt for havens.

Bullion headed for the biggest weekly gain in more than six months as prices hit a seven-year high. With bond yields in retreat and real US interest rates sinking further into negative territory, gold-backed exchange-traded funds have posted a record run of inflows and stand at the most ever .

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