Technical analysis by Here-we-go- about Symbol PAXG: Buy recommendation (12/9/2024)

Data showed that China's central bank ended a six-month pause in gold purchases in November and increased its gold reserves again. The move has been interpreted as a defensive response to global economic and geopolitical uncertainty. In addition, market expectations for a 25 basis point rate cut at the Fed's meeting next week have risen to 87 percent, further bolstering the appeal of non-yielding gold as a safe-haven asset. The evolving situation in Syria has also heightened investor concerns about political risk, providing additional impetus to gold prices.Gold rose and fell last week did not open the range, the maximum range in 2658-2612, even if the small non-farm data, unemployment benefits data, non-farm data failed to open this range, and the morning opening first rose and then fell, and then rose, is also a large range of volatility, also can not see a clear direction, therefore, at the beginning of this week, the probability of gold is still a volatile trend, As long as it does not break the 2665-2610 range, it will not be able to walk out of unilateral efforts. Then, after determining the basic trend, it is necessary to pay attention to the impact of CPI data this week, the CPI data released on Wednesday may be broken up and down, and then look at the unilateral large space, up 2665, or to 2685,2700, down 2610, or to 2562.Gold rose and fell last week did not open the range, the maximum range in 2658-2612, even if the small non-farm data, unemployment benefits data, non-farm data failed to open this range, and the morning opening first rose and then fell, and then rose, is also a large range of volatility, also can not see a clear direction, therefore, at the beginning of this week, the probability of gold is still a volatile trend, As long as it does not break the 2665-2610 range, it will not be able to walk out of unilateral efforts. Then, after determining the basic trend, it is necessary to pay attention to the impact of CPI data this week, the CPI data released on Wednesday may be broken up and down, and then look at the unilateral large space, up 2665, or 2685,2700, down 2610, or 2562.Christmas is coming. Do you have enough money in your wallet? It’s Christmas at the end of the month! During the upcoming holidays, you can choose to watch people shopping, taking vacations, and buying cars. Or buy yourself a car, vacation, or house!