Have the coronavirus fears peaked this week? Analysts are warning that all additional gains gold made on those fears will dissipate, but gold will rise on a different driver altogether.

Gold looks strong above the $1,570 an ounce level amid fluctuating stock market and a robust U.S. dollar. The $1,550 is the new floor in gold that is holding well, said Blue Line Futures chief market strategist Phillip Streible.

“We are close to breaking out. I think we are going to match those old highs at $1,620,” Streible told Kitco News on Friday.

At the time of writing, February Comex gold futures were trading at $1,584.40, up 0.80% on the week.