There was no significant change in the price movement of gold in yesterday’s trading on Tuesday, which moved in the same range as at the beginning of the week.
Analysts see that the attraction to gold assets is still there, but faded towards the end of March trading.
Investors are also watching for clearer clues when a new round of Trump tariffs will begin in early April.
Observing the movement on the XAU/USD chart, which measures the value of gold against the US dollar, the price still remains hovering above the 3000.00 zone after a decline last week towards that level.
The price increase in the European session yesterday reached around 3035.00 before retreating again before leveling off at the end of the New York session before closing around 3020.00.
The price, which is also seen hovering around the Moving Average 50 (MA50) line on the 1-hour time frame on the chart, is being watched for investors to get a clearer direction on further movements.
If the surge is shown to surpass yesterday's trading level, the price increase will head towards the peak of 3057.00 which is the all-time high gold reached last week.
Next, the latest record will be recorded again with the bullish pattern of gold successfully maintained.
However, if the price is pushed down, the 3000.00 level will be tested as support for the price.
After the price breaks below that important level, investors are ready as a signal for a lower decline in gold that is about to begin.
The target for the initial decline is at the 2950.00 zone before the 2900.00 zone becomes the next focus.
