Technical analysis by JosWilliam_ about Symbol PAXG: Buy recommendation (11/12/2023)

XAUUSD NEXT BIG BLAST FOR UPCOMING WEEK XAU/USD prices are testing towards the downside on Friday, edging towards $1,930 after yesterday's hawkish comments from Federal Reserve (Fed) Chairman Jerome Powell, who suggested that the Fed may not have achieved suitably restrictive monetary policy to contain inflation. Alongside Fed head Powell, several Fed policymakers hit newswires this week suggesting that rates may not be high enough to sufficiently cap inflation towards the Fed's 2% target looking forward. The hawkish stance completely eviscerated the broad-market narrative that the Fed was not only done with rate hikes, but would be heading into a rate-cut cycle soon.