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

XAUUSD NEXT CONFIRM MOVE FOR TODAY 100% CONFIRM ANALYSIS Gold price (XAU/USD) falls further as upside risks of Middle East tensions ease. The precious metal remains on the backfoot as market participants expect conflicts to remain contained between Israel and Palestine. Along with fading Middle East conflicts, caution over the interest rate outlook from the Federal Reserve (Fed) has dampened appeal for the Gold. Investors are waiting for Federal Reserve Chairman Jerome Powell’s guidance on the monetary policy meeting in December and the outlook on the economy. Fed Powell is expected to maintain the stance of keeping current interest rates higher for a longer period as cracks appear in the US job market that could restrict inflation expectations. Jerome Powell could warn for more rate hikes in case progress in inflation returns to 2% slows. XAUUSD SELL : 1952 TP. : 1944 TP. : 1936 TP. : 1930 SL. : 1962