Today, gold prices fell 1% as investors booked profits after the metal rose above the $1,700 per ounce level for the first time in more than seven years on fears of a deeper economic fallout from the coronavirus outbreak.

Spot gold fell 0.6% to $1,663.35 per ounce by 05:53 GMT, touching its highest since December 2012 at $1,702.56 earlier. U.S. gold futures slipped 0.4% to $1,665.30.

Global stocks tumbled, while U.S. stock futures plunged 5% as investors sought refuge in safe havens.

On the other hand, Silver fell 3.9% to $16.63 per ounce. Palladium fell 4% to $2,463 per ounce, while platinum was down 3% to $873.50.