Gold prices held steady above the key $1,600 mark today as an uptick in equities due to a drop in new virus cases was offset by fears of an economic fallout from the epidemic.

Spot gold was little changed at $1,603.20 per ounce by 07:02 GMT, having surged to its highest since January 8 at $1,605.26 earlier.

However, U.S. gold futures rose 0.2% to $1,606.50.