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(Gold Prices Slightly Higher as Dollar Weakens Following Latest Trade News)
Gold prices were under pressure since beginning of the year and fell 12% since April amid rising interest rates and intensifying U.S.-China trade dispute.
“For the short and medium-term, gold is likely to trade range bound between $1,190-$1,210. There is some physical demand in Shanghai and Hong Kong,” said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong.