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

Global gold prices continue to fall today, November 9, as the need for capital protection from the military conflict between Israel and Hamas has largely ended, the US dollar has maintained its value, and oil prices have fallen. At around 6 a.m. on November 9, the global gold price today was $1,950 per ounce, a significant drop of $18 compared to the price at the same time the previous day ($1,968 per ounce). Analysts expect the international gold market to continue falling as the need to buy the precious metal as a safe haven has all but disappeared. Concerns about escalating military conflict between Israel and Hamas have receded, removing an important support for today's gold price recovery. Meanwhile, comments from US and European central bankers that it will be difficult to cut interest rates in the short term have helped keep the dollar's value stable. Since then, gold prices have been under further downward pressure todayXAUUSD SELL 1950-1952 TP1 1945TP2 1940SL 1957.