Technical analysis by tradingconmike about Symbol PAXG: Buy recommendation (11/27/2023)

GOLD → Some gains after rally above $2,015 XAUUSD finds itself trading into multi-month highs, looking to clear more topside space after climbing back over the $2,000 handle once more. Finding chart territory north of $2,000 has proven a challenge for Gold bidders after the XAU/USD dropped below the key level back in May, trading back into the year's lows near the $1,800 region. October saw the XAU/USD rally back into positive territory, and Gold is up over 11% from October's low of $1,810. Spot Gold saw fresh bidding after getting pulled down into the 200-day Simple Moving Average (SMA), and buyers will be looking for a fresh round of bids if the XAU/USD sinks back towards $1,950.