Elements tool:
Tapping its icon in the toolbar will show a popover which is anchored to the icon in the tool bar.
Tapping anywhere on the page will show a popover that is anchored to the tapped spot on the page. No blue placeholder symbol indicating that an element will be placed there.

Image tool:
Tapping its icon in the toolbar will show a blue placeholder symbol in the middle of the screen and a popover which is anchored to it.
Tapping anywhere on the page will show a blue placeholder at the tapped spot and a popover that is anchored to it.

I’d suggest also showing a blue placeholder symbol when inserting an element.
Also, I think tapping a tool in the toolbar should have a consistent effect. So maybe it would be better to have the image tool popover anchored to its symbol in the toolbar too.