Technical analysis by TrategySherpa about Symbol PAXG on 9/13/2024

The world gold price is currently at $2,563/ounce, up $46 compared to early yesterday morning. The main driving force comes from the ECB's monetary policy easing move. Specifically, the ECB has lowered the base interest rate by 25 bps to 3.5%, while reducing the refinancing rate and marginal lending rate to 3.65% and 3.9%, respectively. In addition, the gold price is also driven by expectations that the Fed will aggressively cut interest rates, after US economic indicators showed signs of slowing down.BUY XAU 2569 TP1: 2576 TP2: 2583 SL: 2562