Technical analysis by Doolz-Lebanese about Symbol PAXG: Sell recommendation (3/1/2024)

Gold Price and US Dollar Recovery• Gold (XAU/USD) price remains steady at $2,045 during Asian session.• US Personal Consumption Expenditures (PCE) Price Index shows lowest annual inflation in three years.• Potential future interest rate cut by the Federal Reserve.• US Dollar's recovery from 200-day SMA supported by the precious metal.• FOMC members indicate no rush to lower interest rates.• Investors expect Fed to wait for June policy meeting before borrowing cost changes.• Bullish sentiment in global equity markets deters new bullish bets on XAU/USD pair.