Gold closes at 6-year crest

Gold prices surged on Monday, shrugging off the US dollar rise against most major currencies, buoyed by strong safe-haven demand amid mounting fears over the outbreak of the Coronavirus.

China announced that the Corona virus has claimed 81 victims and more than 2,000 infected cases, adding that authorities has locked down 2 cities to combat the virus in its "ground zero".

Investor will focus on the Federal Reserve's interest rate decision later this week, in addition to corporate earnings reports for Q4 2019.

The dollar index rose against a basket of major currencies by 0.1% to 97.9 points at 20:12 GMT, after hitting a high of 98.00 and a low of 97.7.

Gold February futures rose 0.4% to close $1,577.40 an ounce (highest closing since April 2013), with a day high of $1,588.4 and a low of $1,575.3.