Technical analysis by ScopeMarkets about Symbol PAXG on 10/18/2023

There has been a surge in the demand for GOLD due to the renewed tension in the Middle East. As investors seek a haven for their assets, the price of the yellow metal has increased by over 1% leading up to the New York trading session. With a clear break away from a descending channel, the bulls will feed on further geopolitical tension to override the strong resistance around 1948.13 and 1953.55.