Technical analysis by DavidMarsh about Symbol PAXG: Sell recommendation (1/15/2024)

Market conditions are aligning for the gold market as the precious metal benefits from safe-haven demand and growing expectations that the Federal Reserve will cut rates sooner than expected. The gold market is ending the week testing resistance at $2,050 an ounce and according to some analysts, the precious metal still has room to move higher as bullish momentum is just starting to pick up. February gold futures are looking to end the week at $2,047 an ounce, nearly unchanged from last Friday’s close. Although the yellow metal is unable to close the week with a gain, some analysts note that investors shouldn’t be too disappointed as prices are well off their four-week lows seen at the start of the week.Comment: Gold sell 10 pips runningComment: Gold sell 20 runningComment: Gold sell 30 pips runningComment: Follow my chartComment: XauusdComment: Gold buy confirm