Technical analysis by Selenaa_Bella about Symbol PAXG: Buy recommendation (11/25/2023)

Gold will continue to increase? Need to pay attention to what! The price of gold continued to increase significantly in yesterday's trading session, rising over 100 pips since it traded sideways at the beginning of Friday's session and throughout Thursday's trading day. At the time of writing, the price closed at $2002. The weakness of the US dollar on a broad scale continues to strengthen the sentiment around gold prices, despite the recovery of US Treasury bond yields. The stock market and US bonds are set to close early, which is why gold prices are expected to rise strongly next week. Currently, the price is facing resistance at the upward trend line at $2007 and the area of $2009-2010. Further buying activity will be seen as a new catalyst for traders to push gold prices further towards the resistance level at $2022 on the way to the next significant barrier near the $2040 region.