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The coronavirus disease is set to peak in China only in April, according to Zhong Nanshan, quoted by the Chinese outlet Global Times.

Previous estimates stood at February and the decelerating number of new cases also suggested a quicker timetable to contain the respiratory illness.

The news is adverse for global stocks. US markets are closed today for Presidents’ Day. Prices of safe-haven assets such as the Japanese yen and gold prices may benefit from growing concerns. XAU/USD is trading at $1,581 at the time of writing. 

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