The price of gold has risen by around $200, reaching a recent high of $1,914 per ounce in May at a time when the world is in political crisis.

The price of gold generally rises in periods of rocky international relations, with the precious metal turned to in times of uncertainty.

Media reports suggest the US is increasingly at odds with China over the South China Sea dispute.

In addition, Russia said on Monday that it would send what it described as an “uncomfortable signal to the United States ahead of a summit between the two countries” this month, according to CNBC.

The comments came a day after US President Joe Biden said he would press Russian President Vladimir Putin to respect human rights when the two leaders meet in Geneva on June 16.

Relations between the two countries are at post-Cold War lows.

Such worsening geopolitical tensions regularly lead to an increase in the price of gold.

However, a rise in the dollar against the value of gold could face a reversal with the latest US employment rate figures, which, according to Forexfactory.com, are expected to show an increase of around 645,000 jobs.

This optimistic employment rate could appreciate the US dollar, making gold fall slightly and return to its bullish trend based on technical terms.

In accordance with the fundamental and technical analysis, for next week’s trading recommendation, investors should buy gold at $1,855 per ounce, setting a take-profit function at $1,905 per ounce and a stop-loss function at $1,825 per ounce.