Creating new history, the price of gold has now reached a high of $3,500, which is the highest record in its history.
There has been no change in the market situation until the beginning of this week, the attraction to gold as a safe asset continues to remain, seeing support for its continued price increase.
Although the tariff issue has subsided for a while, market concerns are now shifting to President Donald Trump's threat to fire Federal Reserve (Fed) Chairman Jerome Powell.
Investors are beginning to see the central bank's faltering in its freedom to set monetary policy when faced with threats like Trump's.
With current issues continuing to cause uncertainty in the market, gold is seen to remain the focus of investors.
The XAU/USD price chart, which measures the value of gold against the US dollar, is seen to continue to exhibit strong price movements at the beginning of this week's opening.
In yesterday's New York session, the 3400.00 level was successfully surpassed and continued trading until the beginning of the European session today (Tuesday), the 3500.00 level was successfully reached as a new record.
The price retreated slightly after touching the peak level, but the price movement is still in a bullish trend.
Investors still expect the gold price to continue the bullish pattern even though the 3500.00 target has been reached.
Analysts have shifted the target for a new increase to 3700.00, but it is not impossible that a further decline in the gold price could occur.
If the price is 'tired' of climbing, investors need to be prepared for the price to slip and fall again with the possibility of profit-taking activities also occurring.
The price decline can be targeted to return to 3400.00 or even lower towards last week's peak of 3350.00.
