Technical analysis by LachlanGO about Symbol PAXG: Sell recommendation (11/9/2023)

The chart below shows the strong relationship between the inverted US 10-Year yield and gold and is clear where haven demand and risk premium pushed gold higher away from the fundamental relationship it has with this yield (highlighted in orange box). This gives us a clue of where the fair value of gold is without the conflict driven buying. A trading opportunity for a “gap fill” trade of the inverted yield and the gold price opens up. Possible TP is a cross of the inverted yield and the price. Possible SL above the November highs (TradingView code for US 10-year yield is US10Y)