Technical analysis by FOREX-FLOWS-GROWL about Symbol PAXG: Buy recommendation (11/30/2023)

Gold prices continue to maintain a slight increase At the end of this morning's trading session, gold prices still increased strongly, but gold had difficulty taking advantage of increased profits in the region to reach 2,050 USD/ounce. The US Dollar modestly eased off its lowest level since August 11, acting as a drag on Gold prices, despite bets on interest rate cuts by the US Federal Reserve (FED). in 2024 support continues. Gold prices are still considered difficult to predict in the short term. The market now expects the Fed to keep its key lending rate steady within its target range of 5.25% - 5.5% in December, although officials have stressed the need for vigilance. with inflation and keep their options open. The ceasefire agreement between Israel and Hamas was extended by two days beyond its original deadline on Tuesday morning. Hamas released about 50 hostages as part of the original agreement and is expected to release 20 more. another in the next two days in exchange for Israel releasing Palestinian prisoners. This could reduce the metal's safe-haven appeal. Additionally, traders are now scrutinizing the preliminary US GDP report, which is expected to show the world's largest economy growing at an annual rate of 5% in the third quarter vs. with an estimated level of 4.9%.