Technical analysis by Prince677 about Symbol PAXG: Sell recommendation (10/25/2023)

Gold price (XAU/USD) gains some positive traction on Wednesday and move away from the weekly low, around the $1,954-1,953 area touched the previous day. The precious metal manages to hold its neck above the $1,970 level through the first half of the European session and for now, seems to have stalled its recent retracement slide from the vicinity of the $2,000 psychological mark, or a five-month top touched last Friday. Looming recession risk, fueled by a flurry of weaker economic data from Europe on Tuesday, along with the Middle East conflict, turns out to be another factor lending some support to the safe-haven Gold price. That said, a fresh leg up in the US Treasury bond yields and the emergence of some US Dollar (USD) dip-buying, bolstered by hawkish Federal Reserve (Fed) expectations, cap the upside for the non-yielding yellow metal. GOLD BUY : 1971TP. : 1978TP. : 1986TP. : 2000SL. : 1950-52Confirm TargetFollow Us20 Pips Running Enjoy25 Pips Enjoy.Follow The chart90 Pips DoneConfirm BuyFollow My ChartEnjoy Big ProfitConfirm ChartFollow Us100 Pips Done110 Pips RunningFollow Us Need Support