Technical analysis by Henry_pro about Symbol PAXG: Buy recommendation (7/12/2024)

Gold prices experienced a strong increase yesterday, reaching the 2324 level. This rise was mainly due to inflation remaining high, particularly in major economies like the US, China, and the Eurozone. Geopolitical Tensions: Hotspots around the world, such as the US-China tensions and the Russia-Ukraine conflict, show no signs of cooling down, creating pressure on the market and boosting the demand for gold as an investment. After the strong increase, prices are currently adjusting and may fall back to support levels before rising again. Today, the market trend is likely to continue its upward movement, so we will primarily focus on the BUY strategy for gold.