Technical analysis by FXBANkthe8055 about Symbol PAXG: Sell recommendation (12/3/2024)

Gold edges higher in early Asian trade, ahead of key U.S. economic data this week such as the monthly jobs report for November. The data will provide clues on the Federal Reserve's monetary policy outlook, says FlowCommunity's commercial director Tito Iakopa in an email. Gold typically has an inverse relationship with interest rates, with high rates damping demand for the non-interest-bearing metal. Meanwhile, ongoing geopolitical tensions, particularly the Russia-Ukraine conflict, is supporting the precious metal's demand, Iakopa adds. Spot gold is up 0.1% at $2,642.32/oz. (amanda.lee@wsj.com)