Technical analysis by Golden-Fund-Forex about Symbol PAXG: Sell recommendation (9/27/2024)

- Macro OverviewGold prices surged early yesterday but retreated following strong U.S. economic data, only to recover later in the day. Lower gold import duties in India could drive physical demand during the upcoming wedding season in December and January.Meanwhile, the Federal Reserve continues to signal potential rate cuts, though it has yet to commit to a clear future path.- Technical AnalysisXAUUSD continues its strong upward trend, reaching new all-time highs. The formation of higher highs, along with bullish EMAs, reinforces this momentum.Should XAUUSD continue to rise, the price could challenge the potential resistance level at $2,700 before targeting $2,750. However, if XAUUSD corrects downward before resuming its rise, the price might retest the $2,630 level.