Technical analysis by FXBANkthe8055 about Symbol PAXG: Buy recommendation (1/6/2025)

Gold prices inched higher on Monday, supported by a softer dollar, while investors awaited a slew of U.S. economic data including the December nonfarm payrolls report for further guidance on the Federal Reserve's interest rate stance.Spot gold GOLD rose 0.2% to $2,643.69 per ounce by 0229 GMT. U.S. gold futures GOLD climbed 0.1% to $2,656.80."A subdued start to the week by the U.S. dollar is helping gold to eke out some gains," said Tim Waterer, chief market analyst at KCM Trade.