Gold prices were trading just short of the all-time high they hit earlier this week, with a combination of trade and geopolitical tensions and buying sprees by central banks boosting demand for the yellow metal.

The price of gold broke another record this week. Here's why prospective investors should act before it rises again.

Gold retreated after reaching $2,882, signaling a potential pullback as it nears resistance, with $2,790 identified as key support in case of further weakness.