Technical analysis by Veraa_Queen about Symbol PAXG: Buy recommendation (12/17/2023)

Hello everyone, join Vera in analyzing and evaluating the price of GOLD next week 🌸🌸🌸 The global price of gold has experienced a recovery week after the FED decided to maintain the current interest rate. The spot price of gold on May 6th slightly decreased and closed at $2018 per ounce. I anticipate that the upcoming week will see gold experiencing a period of little movement, remaining within the range of 2000 to 2028. However, as we approach the final week of 2023, we can expect increased volatility in the market. Currently, there is a relatively equal balance between buyers and sellers within the range of 2000 to 2045. In the short term, expectations regarding interest rate cuts will be adjusted. However, in the medium to long term, traders will be closely monitoring the timing and extent of these cuts. Once the Federal Reserve clearly signals a cut in interest rates, it will provide a clearer direction for gold. This is an important event that gold bulls should patiently await.