Gold breaking its latest record high no longer surprises investors who are prepared to expect the situation to happen this week.
The price of gold reached as high as $3,357 early this morning as its latest all-time high, for now.
Still the main driver driving the strengthening of gold in the market is the uncertainty of the market that is plagued by the global tariff war.
The tariff shock of up to 245% was explained again by the White House, but the situation of the world's two giant economies that are retaliating with tariffs still makes investors nervous and shift towards safe assets.
On the XAU/USD chart that measures the value of gold against the US dollar, it can be seen that the strong price surge occurred on Wednesday after leveling off at the beginning of the week.
However, the price showed a slight decrease today (Thursday) with reports that China opened the door to trade negotiations with the United States (US) and expects Trump to stop threatening.
Slightly easing concerns, gold prices have started to retreat from their highest peak reached while investors watch for signs of a change in price trend.
The trend is still for gold prices to continue to record new highs with analysts targeting 3500.00.
However, changes in market conditions could also push gold to a more significant decline again.
Prices risk plunging back to around the 3240.00-3220.00 zone that was the focus of trading earlier in the week.
