Technical analysis by DNA_fxview about Symbol PAXG: Buy recommendation (12/28/2023)

Dear friends, In general, the upward trend in price and accumulation is strengthening the upward momentum of gold at the present time, whereby the USD has dropped to its lowest level in the past 5 months, helping today's gold price become attractive. Meanwhile, the 10-year US bond interest rate dropped to 3.8%/year. This has prompted many people to lack interest in bonds, focusing capital on precious metals. Gold prices continue to increase today, which is understandable. On the other side: Using the Elliott wave measuring tool (1,2,3,4,5) we see that the previous 4 waves have completed. The perfect target for wave 5 could be the psychological level of 2100 USD.