Technical analysis by tsmarts about Symbol PAXG: Buy recommendation (6/12/2023)

There is much upheaval about the world economy and uncertainty looms from banking sector to China reopening. I think China is a big question in the markets now. Everyone expected China to boost world GDP, but it is failing in reopening its economy. Since China problems are multi-faceted. Lowering interest rates will provide stimulus, but the banks are overleveraged and some find hard to even be liquid.. Catch 22 moment. Gold still is in a techincal downtrend and any long setup should be cautioned. Lets see if gold bulls take control.