Technical analysis by ConanTradingFX about Symbol PAXG: Buy recommendation (10/21/2024)

A recent Kitco News survey shows a broad sense of optimism about the gold price outlook. The majority of experts (94%) predict further price gains, while only one analyst (6%) sees no significant change.However, gold’s ability to maintain its value may be challenged by concerns about the US dollar, which could see demand revive as the ‘Trump rally’ is revived. Additionally, with no major US economic data due for release on Monday, the focus will remain on risk sentiment and speeches from several Fed policymakers to provide fresh impetus to gold prices.When it comes to trading strategies for the start of this week, the priority will be given to buying in view of the Fibonacci extension on the bullish channel as mentioned on D1.good