Technical analysis by Trading-Capital about Symbol PAXG on 9/14/2024

Gold is going parabolic and typically that doesnt mean a good thing. Now there are many reasons this could be rallying and likely a combination of the few. - Fed Rate Cut- Geo political tension - Weak Fiat currencies- Currency Crisis- Weakening economiesIn a time where gold enters these monthly extreme RSI moves it typically signals a good time to start trimming. Gold usually goes through a multi month correction but this could also spill into other asset classes. As the steepening effect on the 10y/2y finally was confirmed today, large macro implications could follow and this is exactly what Gold confirmed this week.