Gold benefitted from the safe haven bid as.....>

GOLD: Gold benefitted from the safe haven bid as US President Trump ordered the

US Trade Rep to identify an additional $200bln in Chinese goods for tariffs at a

rate of 10%, this is a larger nominal amount than had been expected. A second

bout of risk off flows hit after China vowed to take strong countermeasures if

the US issues a new sanctions list.

- The $1310.5 resistance reconfirmed significance with the pop above the 200-DMA

($1305.7) lacking follow through. Friday's sell-off resulted in 2018 lows with

immediate pressure on the 100-WMA. Bears need a close below the 100-WMA to add

weight to the case for a test of the 200-WMA. Bulls need a close above $1286.2

to gain breathing room and above the 21-DMA to return pressure to $1310.5.