Technical analysis by Scalp_Trader68 about Symbol PAXG: Buy recommendation (8/13/2024)

Gold (XAU/USD) prices attracted some selling near their monthly highs early Tuesday, paring some of the previous day’s sharp gains of more than 1%. Positive equity market sentiment has dampened demand for traditional safe-haven assets, putting pressure on precious metals. However, some supportive factors remain, helping to keep gold prices steady and limit deeper declines, especially as investors adjust their positions ahead of the US inflation data release. Note the price range: Buy zone: 2440 - 2438 Stop loss: 2434 Take profit 1: 2450 Take profit 2: 2460 Sell zone: 2500 - 2502 Stop loss: 2506 Take profit 1: 2490 Take profit 2: 2480