Technical analysis by Soon-trader about Symbol PAXG: Buy recommendation (7/31/2024)

Signs of economic recession from Europe and Asia have increased demand for safe-haven assets like gold. The EMA 34 and EMA 89 are supporting gold prices. If prices hold above these EMAs, the uptrend will continue. Prices are fluctuating around the Bollinger Band average, indicating slight short-term volatility. If gold prices break the resistance at $2,420/oz and hold above this level, they may continue to rise in the short term.