Technical analysis by Selena_Bella about Symbol PAXG: Buy recommendation (11/20/2023)

Gold attracted some sellers below $1,980 Dear friends, currently, gold is approaching the psychological level of $1985, signaling an end to the prolonged downtrend. The decrease in US Treasury bond yields is supporting the upward trend in gold prices, while the US dollar is experiencing a revival, which may curb the metal's ascent. Therefore, it would not be surprising if Selena poses a challenge around the resistance level of the descending trendline at $1992, close to the highest point on November 6th at $1,993. Accepting levels above this mark would prompt gold buyers to test the $2,000 threshold.