Keep putting a smile on the faces of gold investors as the commodity asset continues to experience a positive surge in value earlier this week.
This follows the initial surge that occurred at the end of last week with the Silicon Valley Bank (SVB) crisis in the world's attention.
While the US dollar suffered a significant decline, the safe-haven asset gold showed excellent performance to break out of the previous week's flat zone trading.
However, analysts still issue cautionary warnings as market movements are still uncertain with the focus now shifting to the release of United States (US) inflation data today.
The XAU/USD price chart which measures the value of gold against the US dollar saw the rising pattern on Monday yesterday continuing to break through the 1900.00 zone following a surge to 1870.00 last Friday.
The latest 6-week high was reached around 1914.00 before a weak decline in the Asian session this morning (Tuesday) hovering above the 1900.00 level.
The current bullish trend for gold is expected to see continued price increases towards the next high target at the 1950.00 zone.
The zone was tested at the end of January before there was another significant drop in gold prices.
Although the rising pattern is expected, but with this turbulent market environment, it is not impossible for the price of gold to suddenly show a plunge again.
Price could drop back to around 1870.00 and potentially wipe out yesterday's gains if it breaks lower below that zone.
A significant decline if continued could return to stop around 1830.00 which was the critical price area last week.
