Technical analysis by AnalytixEdgeByQasim about Symbol PAXG: Buy recommendation (5/13/2024)

- There is a characteristic pattern that gold chart follows during its bullish rally. - During first rally from August 1976 till January 1980, the price went up by 773% over 41 months period. - During second rally from August 1999 till September 2011, price went up by 662.03% over 145 months period. - If we compare the first rally with the second, there was a drop in price upward move of 14.36%. - On the contrary, the time duration the price moved above 600% increased by 253.6%. - If we can roughly project this to future, then price of Gold should hit 6982.63 dollars by January 2056. - It is also noted that Bullish cycles start in August or December, which are bullish months with more than 60% probability for Gold.