Technical analysis by Alena-Blohm about Symbol PAXG: Buy recommendation (12/14/2023)

Dear friends, Gold has surged past the $2000 mark, putting an end to its previous losing streak. The weakening US dollar and lower bond yields, as a result of the Federal Reserve's meeting, have acted as tailwinds for the precious metal. At the time of writing, the price has cooled off slightly, trading around $2031. In my opinion, gold is poised to continue its upward trend, with an expected increase to $2077 - $2114 after retesting the previously broken resistance level.