In order to answer this question in a satisfactory manner, we have to consider the main factors that trigger a rally in gold prices. Gold is globally regarded as a safe-haven asset, which means that investors prefer to buy and hold gold as security during uncertain market conditions.
The price of gold has recently rallied amid the uncertain global economic conditions created by the US-China trade hostilities as well as the tariffs instituted by the Trump administration against imports from other countries. Investors have been buying gold as a hedge against the ongoing trade hostilities and the slowing global economic growth that has affected many major economies including Germany, China and lately the US.
To make an accurate prediction of where the price of gold will be in a month or more is quite hard, but the yellow metal is likely to keep rising if the uncertain global economic conditions persist. However, a trade deal between the US and China and an economic recovery may hinder a gold rally by resulting in an improved risk appetite among investors.
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