Central banks stormed back into the gold market in the final three months of last year, playing a key role in the metal hitting an all-time high.

Gold reached a record $2,887 before reversing, forming a bearish pattern that may signal a retracement towards support near $2,772-$2,790.

Gold prices hit an all-time high on Monday, bolstered by safe-haven inflows after U.S. President Donald Trump's tariffs on Canada, China and Mexico added to concerns of inflation that would dent economic growth.

Gold futures settled at yet another new record due to a weaker U.S. dollar and growing concerns of an escalating U.S.-China trade war, and the likely hit to global economic growth prospects.

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.

Gold prices rose to hit a lifetime high on Thursday while the focus was also on a crucial inflation report for clues on the Fed's policy path.

Gold edged closer to a record high ahead of a key US jobs report, while heightened geopolitical tensions and economic concerns continued to support haven demand.

Gold prices reached an all-time high on Tuesday, after U.S. President Donald Trump's tariffs on Canada, China and Mexico added to concerns about inflation that could dent economic growth. On Chinese social media,