Bengaluru — Gold prices inched up on Friday but remained on course to rack up their longest monthly losing streak since 2013, hit by the concern over lingering US-China trade tensions. Spot gold was up 0.2% at $1,202.04/oz at 3.21am GMT, after touching a near one-week low of $1,195.95 on Thursday. Prices are down 1.7% in August, on track for a fifth consecutive monthly decline. US gold futures were up 0.2% at $1,207.90/oz. “As $1,200 is always a psychological level, there will be some battle to regain that…. It is going to be critical whether prices are going to close above or below that level today,” said Brian Lan, MD at dealer GoldSilver Central in Singapore. Analysts and traders said gold would closely track moves in the dollar, in which the metal is priced, especially with investors bracing for the next round of the US-China trade conflict. Gold prices have declined about 7.7% so far in 2018 amid international trade disputes and the Turkish currency crisis, with investors prefe...
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