Gold should benefit on the back of weakening equities, and should the next resistance level be broken, $1,374 an ounce should be the next target. My current target is $1,374 [an ounce] and that is based upon a Fibonacci extension of the last rally.
As the trade war between the U.S. and China escalates, all eyes are on how the economy will respond, and one expert said that gold will come out as a beneficiary.