Technical analysis by UnknownUnicorn61697614 about Symbol PAXG: Sell recommendation (1/17/2024)

Dear reader,I am very bullish on gold long term, but I think that the charts are speaking for themselves right now. Wait, you don't know why, I get you on todays latest data that came out:1. U.S. retail sales in December exceeded expectations, suggesting a robust economy.Federal Reserve Governor Christopher Waller emphasized that the Fed should not hastily lower interest rates unless lower inflation is sustained.2. Palladium prices hit their lowest level since 2018.3. Gold prices fell to a more than one-month low due to a strengthened dollar and higher Treasury yields, fueled by strong economic data. Market expectations of a U.S. rate cut in March have diminished.4. Geopolitical risks may continue to provide a base for gold prices around $2,000.Traders are currently pricing in approximately a 53% chance of a rate cut in March, according to the CME FedWatch tool.The first point is the most important bullish base case for the US dollar which in return is negative for Gold (makes it more probable that interest rates will affect demand for the yellow metal) Like & comment, don't forget to tell my what you would like to see next.Best regards,Kevin