Coronavirus has taken the world by storm and how. The Chinese government has reportedly clamped down on the central Chinese city of Wuhan, the epicentre of the deadly coronavirus that has claimed 132 lives so far and infected thousands. The reach of the virus has been reported from as far as the United States.

The outbreak that happened last month is said to hurt the Chinese economy in the short term. While reports of diamond exports being affected by the virus has already been doing rounds on the internet, the yellow metal's price has inched up post the coronavirus outbreak.

Spot gold rose 0.1% to $1,578.05 per ounce by 0058 GMT, having gained 0.7% in the previous session. U.S. gold futures climbed 0.5% to $1,577.70. Gold prices in India too moved higher as the heightened fears of the economic impact of the outbreak prompted investors' flight for the safe-haven asset. Global stocks fell post a second confirmed case of the virus on US soil. Gold February futures contract in India rose Rs 267 or 0.66% to the intraday high of 40,619 per 10 gm on the MCX.