BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Gold prices fell on Monday after China's central bank and other regulators announced a slew of targeted measures aimed at helping companies, banks and individuals.
Spot gold dropped 0.75 percent to $1,577.76 per ounce, after having touched its highest since Jan. 8 at $1,591.46 earlier in the day. U.S. gold futures were down 0.35 percent at $1,582.55.
The coronavirus that originated in Wuhan has a confirmed death toll of 361 inside mainland China as of Sunday, surpassing the 349 deaths caused by the 2002-03 SARS epidemic.
To relieve pressure on the economy from a rapidly spreading virus outbreak, China's central bank unexpectedly lowered the interest rates on reverse repurchase agreements and pledged to inject $174 billion of liquidity into markets.
On the data front, Chinese factory activity expanded at its slowest pace in five months in January while industrial firms posted their first annual decline in profits in four years in 2019, separate reports showed.
Elsewhere, the final eurozone manufacturing PMI rose to 47.9, its highest since March last year and up from December's final reading of 46.3.
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