Technical analysis by Financebroker about Symbol PAXG: Buy recommendation (10/20/2023)

This week, we saw a continuation of the bullish consolidation in the price of gold. We started the week at the $1925 level, and now we see the formation of a new high at the $1985 level. The bullish momentum is still very strong, and we could expect to see a continuation to the $1990 level. Above, we would be tempted to go ahead and test the $2000 level. The previous time, the price of gold was at the $2000 level in May of this year.