Technical analysis by Doolz-Lebanese about Symbol PAXG: Buy recommendation (3/17/2024)

Gold Price Decline_______The price of gold declined from approximately $2,180 on Friday, experiencing consecutive sessions of losses as investors' expectations for the start of the US Federal Reserve's easing cycle were delayed due to robust US economic data.Fed Chair's Statement_______The higher-than-anticipated inflation numbers support Fed Chair Jerome Powell's statement to exercise patience and maintain the current monetary policy approach until the disinflation process progresses.Current Gold Price_______Currently, the XAU/USD is trading at $2,157.66, reflecting a 0.20% decrease.