Gold prices are trading bullish into a brand new week over worries of a possible escalation in US-China trade tensions after the Trump administration cautioned China that the deadline for the next round of tariffs was approaching. At the time of writing, GOLD is trading at a little above $1,459.

On Friday, White House Chief Economic Adviser Larry Kudlow reminded China and global financial markets that the next round of tariff hikes was due to roll out on December 15, unless China decides about the finalizing of the phase one trade deal. Gold prices remain supported over expectations of the phase one deal getting delayed further and trade tensions flaring up all over again if these new tariffs get implemented.

Gold closed 1% lower on Friday after the release of the US NFP report which showed a robust bounce in job growth. According to the NFP report, jobs in the US increased at the sharpest pace seen since 10 months during November, infusing optimism about the state of the US economy and supporting the US dollar, which shares a negative correlation with the prcious metal.

In addition to the US-China trade tensions, gold also found some support after US President Donald Trump cautioned North Korea about its latest tests and warned that it should denuclearize if it didn’t want to lose “everything”.