Technical analysis by Daisy_Anna about Symbol PAXG on 4/22/2024

In the European trading session, gold continued to decline to near 2,350 USD after retreating during the Asian session on Monday. This persistent decline is attributed to the increase in US Treasury bond yields. Additionally, the political situation in the Middle East has eased, reducing concerns and the search for safe-haven assets like gold.Looking at the chart, we can see that the price has broken through the trend line and formed a double top pattern. In the near future, gold prices may continue to undergo further corrections and trend towards a downward direction, especially as technical indicators indicate market weakness.