GOLD Analysis – Gold Remains Hovering at the Highest Peak!


Gold investors remain optimistic for the yellow metal's strong performance this week with a surge in prices at the opening of April trading.

Gold managed to break the latest high price record again in the Asian session yesterday when it reached the level of $2,265 before retreating again in the next session.

That marked an all-time high for gold after surpassing levels set last week.

The situation of the strengthening of the US dollar in the New York session yesterday was seen to also have an effect on the price of gold, however, the price recovered to resume trading today (Tuesday).

Investors examine price movements on the XAU/USD chart which measures the value of gold against the US dollar.

After starting the opening trade yesterday around the 2240.00 level, the price continued to rise reaching a high of 2265.00.

Then the price showed a decrease again until it reached around 2230.00 when the US dollar started to strengthen in the New York session.

But towards the end of the session, the price of gold bounced a little to close trading around 2250.00.

Today's slow price movement from the Asian session continued into the European session as investors await the latest indications in the market that may affect the price of gold.

Investors are still optimistic for gold to record a new high above yesterday's level and continue to hunt for new record highs.

The target can reach up to around 2300.00 or even higher.

Meanwhile, if there is a price drop, the level that needs to be observed is at 2220.00 which was the focus of the previous week.

A lower drop will begin to signal a change to a bullish trend for gold before the price drops below the 2200.00 level.