Technical analysis by top_fx about Symbol PAXG: Buy recommendation (4/3/2024)

🔖XAU/USD, H4🔖 3 April 2024 Gold prices continued to climb amidst weak risk appetite, driven by ongoing geopolitical tensions and anticipation of market volatility surrounding the US elections. Despite the surge in US Treasury yields, gold remained appealing to investors seeking safe-haven assets. However, concerns persist regarding the potential impact of a high interest rate environment from the Federal Reserve on gold's gains. Gold prices are trading higher following the prior breakout above the resistance level. Suggesting the commodity might enter overbought territory. Resistance level: 2295.00, 2305.00📉 Support level: 2280.00, 2265.00📈