Gold hovers near seven-year peak on Coronavirus concerns

Gold futures tilted lower in Asian trade while remaining within sight of March 2013 highs, as the dollar index eked out gains ahead of US housing data. 

As of 03:52 GMT, gold futures due in February shed 0.01% to $1,558.30 an ounce, while the dollar index rose 0.06% to 97.87. 

Federal Reserve Bank of New York President John Williams is due to deliver opening remarks at the Puerto Rico Pitch Program in San Juan, while US new home sales are expected up 1.6% to 731 thousand units in December. 

Next Thursday we will see data on US GDP for the fourth quarter, expected up to 2.2% from 2.1% in the third quarter. 

The Federal Reserve will hold its January 28-29 meeting in Washington, expected to maintain rates at below 1.75%. 

Otherwise, China warned the Coronavirus's spread is gaining pace, noting over 2700 infected cases and more than 80 deaths so far. 

The World Health Organization declared the virus an emergency from China, while Canada announced its first case and the US its fifth case.