Gold prices maintained the gains as the risk off sentiment saw investors rushing to safe haven assets. US officials are raising tariffs on $200 billion worth of existing goods imports from China this Friday. The increase will be from the current 10% to 25%. Meanwhile, China’s vice premier Liu He will be in Washington from Thursday to continue the trade talks.
XAUUSD Looks Bullish
Gold has managed to break past the 1285 handle on the 4-hour chart. The bullish close above Monday’s doji candlestick pattern potentially indicates further upside in price. A breakout above 1285 will push gold prices to test the 1290 handle in the near term. If the bullish momentum continues, we expect an eventual rise to the 1302 region.
