Technical analysis by Scalper_Ananda about Symbol PAXG: Buy recommendation (6/20/2024)

Gold hovered around $2,330 per ounce mark on Thursday, as sluggish US economic performance heightened expectations that the Federal Reserve might reduce interest rates this year. Tuesday’s data showed that US retail sales barely rose, signaling cooling consumer sentiment. This, along with recent labor market and price data suggesting easing pressures, prompted the Fed to seek further confirmation of cooling inflation before likely cutting interest rates by year's end. Meanwhile, Chicago Fed Bank President Austan Goolsbee called the latest consumer price inflation reading "excellent" on Tuesday and expressed optimism for further inflation cooling this year. Investors are now focused on weekly jobless claims due later in the day and flash purchasing managers' indexes on Friday for insights into consumption and economic strength. 🔴SELL GOLD: 2353 - 2355, SL: 2359 🟢BUY GOLD: 2306 - 2304, SL: 2300 ⛔️Breakout: 2340 - 2325 - 2305 🔼Support: 2332 - 2325 - 2315 - 2305 - 2300 - 2291 - 2286 🔽Resistance: 2340 - 2344 - 2350 - 2355 GOOD LUCK EVERYONE👍