Gold shines brightly with the price returning to its peak level again, making investors more optimistic for commodity trading at the end of the week.
As analysts expected, the attraction to gold assets is still there in the current uncertain market environment.
Especially when influenced by the policies of the administration of President Donald Trump who is outspoken in an effort to boost the United States (US) economy.
With the issue of the tariff war heating up, gold has the advantage of experiencing an increase in its current trading value.
Observing the movement on the XAU/USD chart which measures the value of gold against the US dollar, the price has jumped higher yesterday, surpassing last week's level.
After leveling off in the Asian session around 2915.00 yesterday, the price of gold clearly showed a surge in the New York session reaching a height of 2940.00.
Before the surge, the price managed to test the Moving Average 50 (MA50) support line on the 1-hour time frame on the chart before bouncing, indicating a bullish movement signal for gold.
The price is hovering in the 2950.00 zone and has the potential to break the latest record high (ATH) again.
The next target is for gold to reach the 3000.00 level.
However, if the 2950.00 zone still fails to be broken, beware of a possible decline in gold prices.
Investors are also encouraged to take profits in the final trading sessions at the end of the week which could trigger a price reversal to around 2900.00 again.
