Technical analysis by Pierce_Bowers about Symbol PAXG: Buy recommendation (12/12/2024)

Gold prices continued to rise sharply today and hit a 9-week high after the important US inflation report. Specifically, the US announced that the consumer price index (CPI) in November increased by 2.7% compared to the same period last year, in line with market expectations.Optimists in the gold market breathed a sigh of relief when the CPI stabilized. Because this factor could push the Federal Reserve (FED) to cut interest rates at the monetary policy meeting taking place next week, which would benefit gold prices.According to investors' assessment, there is a 96% chance that the FED will cut interest rates by another 0.25 percentage points at the meeting on December 17 and 18, 2024.Personally, I am expecting gold prices to reach a new high in 2025, when bond yields gradually decrease, geopolitical risks are still the driving force for investment sentiment in gold.And you, what do you think?