The increase in the price of gold did not stop until last week when investors continued to see the price of the yellow metal jump again until today.
Gold's recent all-time high record continues to be broken and so far, the highest level reached is around $2,288 this morning.
The situation of the re-decreasing of the US dollar that failed to maintain positive momentum at the beginning of the week adds an advantage to gold trading.
If this situation continues, there is no obstacle for gold to remain soaring and record the highest price in history.
Examining the XAU/USD price chart that measures the value of gold against the US dollar, the bullish trend pattern remains constant until the beginning of April.
Since last week's price increase, the price has reached the 2288.00 level this morning before slowing at the highest zone in history.
The price drop was then displayed for early trading in the European session this evening.
Current factors including the US dollar situation and the conflict in the Middle East are seen to continue to favor gold trading.
Thus, analysts still see the tendency of the latest highest price to be recorded again after this.
The focus level for the latest height that the price is likely to reach is the 2300.00 level.
With the reaction to the important data that will be published after this, a drastic movement of gold can be expected to occur.
But be alert if the movement shows a change in direction down again.
Gold prices are at risk of falling after reaching the highest peak with the latest indicators being observed.
Continued price declines are expected to approach the 2220.00 zone and test that vicinity before investors assess further moves.
