COMMODITY REPORT: Gold Price Forecast: 8 May 2019 - Gold Hits 1-Week High, Where Next For Prices? [Video]
|Gold prices rose to a 1-week high on Wednesday as renewed worries over U.S.-China trade dispute and its potential impact on global growth dented risk sentiment, and prompted investors towards safe-haven assets.
U.S. President Donald Trump tweeted on Sunday he would raise tariffs on $200 billion worth of Chinese goods, accusing China of backtracking from commitments made during trade negotiations.
Meanwhile Hedge Funds and Money Managers switched to a net long position in Comex gold.
Gold was up 0.2 percent at $1,287 per ounce after hitting their highest since April 26 at $1,287.87.
Where are commodity prices heading next? Watch Phil Carr at The Gold & Silver Club review Gold with the latest price forecast and predictions:
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