Technical analysis by TrategySherpa about Symbol PAXG on 9/25/2024

Weaker US macroeconomic data has put significant downward pressure on the USD, pushing it closer to its lowest level this year while pushing gold prices to a new record high. The Consumer Confidence Index fell to 98.7 in September, down from 105.6 in August, while Current Conditions fell to 124.3 from 134.6. A Richmond Fed survey showed manufacturing activity remained weak, with the composite index falling to -21 in September from -19 in August. The CME Group’s FedWatch tool shows that markets are pricing in a more than 60% chance of the Fed cutting interest rates by another 50 bps at its November meeting.SELL XAU 2664 TP1: 2657 TP2: 2650 SL: 2670Running + 60 pipsRUNNING + 100 PIPS