No longer a surprise to investors, gold on Monday broke its latest record high, which is getting closer to the $3,400 level.
Last week, the record high for gold was reached at $3,357 before the price dropped again on Thursday.
Investors rested on Friday in conjunction with Good Friday.
However, as analysts expected, gold still has the potential to show excellent performance with global market uncertainty driven by the tariff war conflict.
Movements on the XAU/USD chart, which measures the value of gold against the US dollar, showed a price decline last Thursday to the level of 3284.00.
After testing the Moving Average 50 (MA50) resistance line on the 1-hour time frame on the chart, the price rebounded before the close of the New York session.
Continuing at the beginning of this week, the bullish price pattern continued to surpass last week's high level, thus recording a new all-time high.
As of 4pm local time, the price of gold has reached its highest level at 3395.00 with expectations of continued increases.
The target at 3400.00 will be reached in the near future before moving to the next target at 3500.00.
However, investors need to be wary of the risk of a pullback in the price of gold from its peak level.
Several levels will be in focus if a decline occurs, including the 3350.00 and 3300.00 levels.
