Technical analysis by Trader_BrianFX about Symbol PAXG: Buy recommendation (6/24/2024)

Gold (XAU/USD) is catching some attention in early European trading on Monday, bouncing back after its recent dip from Friday's two-week high. Despite the Federal Reserve’s hawkish surprise, projecting just one interest rate cut in 2024, markets are still speculating on the potential for two cuts this year due to easing inflation pressures. This speculation is weighing on U.S. Treasury yields. Combined with a lighter risk sentiment, ongoing geopolitical tensions, and political uncertainties in Europe, these factors are boosting the appeal of safe-haven assets like gold. With these dynamics in play, gold seems poised for continued support as investors navigate the complex landscape ahead.