Gold prices keep rising on the early of market opening on Friday, stood above USD 1,500 per ounce, fueled by the concerns about the U.S.-China trade dispute and worries over global economic slowdown lifted demand for gold.
Gold spot was up 0.4% at USD 1,507.40 per ounce as of 04.17 GMT.Gold has risen more than 4% so far this week, putting it on track for its second consecutive weekly gain. Trade tensions between the United States and China further escalated after a report that Washington is delaying a decision about licenses for U.S. firms to restart trade with Huawei Technologies. On Thursday, the Philippine central bank joined the bandwagon and cut its key policy rates, whilst keeping the door open for further easing.
Strategy : Buy Gold at USD 1,500.00 per ounce, Take Profit at USD 1,516.00 per ounce, and Cut Loss at USD 1,490.00 per ounce.