Technical analysis by james577 about Symbol PAXG: Sell recommendation (12/13/2023)

Gold price (XAU/USD) reverses an early European session dip to over a three-week low and climbs back above the $1,982 level in the last hour. Any meaningful appreciating move, however, still seems elusive amid the uncertainty over the Federal Reserve's (Fed) near-term policy outlook, which might hold back traders from placing aggressive directional bets. Hence, the focus will remain glued to the outcome of the highly-anticipated FOMC policy meeting, scheduled to be announced later today.