Gold recaptured its new high of $2,531 during Tuesday's trading after several key factors such as China starting to strengthen demand, USD weakening position and geopolitical conflict in the Middle East.
This is also the latest record high in history for gold.
At exactly 9.20am, the price of gold was at $2,513.65 which is unchanged since it opened in early Asian trading on Wednesday.
Yellow metal price expectations for a correction were missed after it continued its upward trend as demand from the (PBoC) sparked a new wave of demand.
Demand for safe-haven assets continued to rise after China's 10-year Government Bond yield fell to record lows last week, prompting Chinese investors to seek shelter.
In addition, gold also rose as the US dollar (USD) fell to an eight-month low where the Dollar Index (DXY) fell to 101.76 points in early trading.
The precious yellow metal also recorded demand after attempts to reach a peace deal in the Middle East led by US Secretary of State Antony Blinken failed as Israel allegedly set a one-sided deal.
Recently, Iran's all-out attack on Israel also remains a risk factor.
