Gold looks up high to the sky as the price continues to break its new all-time high.
The appeal of gold assets remains intact as the market atmosphere remains risky, shrouded in concerns over the tariff war and other current issues.
Therefore, it is not impossible that the price of gold is seen to continue to rise until today, but investors remain excited to see the latest price level that has never been reached before.
Observing the movement on the XAU/USD chart that measures the value of gold against the US dollar, the price has managed to surpass the important level of 3000.00 at the beginning of the week before continuing to climb.
In the New York session yesterday, the price reached a height of around 3038.00 before continuing to rise today, reaching a new high of 3045.00 at the opening of the European session.
The price movement remains with a bullish signal, seeing the price continue to move above the Moving Average 50 (MA50) support line on the 1-hour time frame on the XAU/USD chart.
Analysts have set the nearest target at 3100.00 for the price to reach.
However, be wary of the risk of a price fall back towards the end of the week, which could react to the latest FOMC meeting.
If the price of gold declines, the 3000.00 level is seen as a focus zone that will be targeted again.
