Technical analysis by MarkEliza about Symbol PAXG: Sell recommendation (2/16/2024)

GOLD WILL FALL TODAY CONFIRM ANALYSIS Gold price (XAU/USD) attracts some buyers during the early part of the European session on Friday and looks to build on its recovery from a two-month low, around the $1,984 region touched this week. The US Dollar (USD) bulls prefer to wait on the sidelines amid the uncertainty over the Federal Reserve's (Fed) rate cut path, which, in turn, is seen as a key factor acting as a tailwind for the commodity. That said, a goodish pickup in the US Treasury bond yields, bolstered by Atlanta Fed President Raphael Bostic's hawkish remarks, lends some support to the Greenback and should cap gains for the non-yielding yellow metal.Comment: Follow My ChartTrade active