Last week's closing, once again the price of gold set up its all-time high (All-Time High) reached the price of $ 3,000.
The record was reached in a European session last Friday after following a significant spike in the previous day after passing a previous record in the $ 2,950 zone.
There has been no change in the gold situation when it remains as a safe asset in the market atmosphere, especially with the issue of tariff war that is the main focus.
Note on the Xau/USD chart that measures the value of gold against the US dollar, the price has shown a spike on Thursday that penetrates the 2950.00 zone.
So investors are not surprised by the target of 3000.00 which has been expected to be achieved.
Gold prices also reacted to the new summit to see him retreat after testing for a moment.
Prices closed trading at the last session of the week at around 2990.00 and stayed slowly around it at the beginning of the opening of this week.
The price movement still on the Moving Average 50 (MA50) support line remains a bullish trend for gold.
The 3000.00 level is now an important resistance to test prices and if successfully penetrated, new records will be created again.
Analysts set a new target for gold prices at 3100.00.
But if the price does not succeed at the level of 3000.00 and then shows the signs of decline, the 2950.00 zone will be re-approached.
