Technical analysis by Henrytrader93 about Symbol PAXG: Buy recommendation (8/16/2024)

Hello dear friends!Gold prices edged up slightly from early yesterday morning but retreated from the day's gains. The precious metal turned lower, pressured by a rebound in the US dollar and rising Treasury yields following stronger-than-expected US economic data.However, geopolitical risks and bets on the imminent start of a Fed rate-cutting cycle are likely to support the bulls.