$PAXG Price Reclaimed to $4,974 as Buyers Step in After Two-days Decline 🔥✨
$PAXG price climbed back above $4,950 per ounce, rising 0.6% as buyers intends to buy after a two-days sharp drop. Low trading activity during the Lunar New Year in Asia helped to push the precious metal price higher. 📈
At the end of January $PAXG price reached record high above $5,595, but sharp speculative buying then led to a crash toward about $4,400. #PAXGUSDT has now recovered roughly half those losses, though trading remains shaky. ⚖️
Major banks like BNP Paribas, Deutsche Bank and Goldman Sachs predicts a renewed and sustainable bullish trend in #PAXG price. Experts are pointing out to rising geopolitical tensions and a investment outflow from government bonds and some national currencies as key drivers of pushing investors toward safe-haven assets like #PAXG 🛡
Concerns over the Fed’s independence and any hint of future rate cuts also support non-yielding metals. Fed minutes of last meeting will be published today, it may influence the precious metals market, and investors will watch Fed's comments closely. 🕵️♂️
Outlook: #PAXGUSDT price must break resistance near $4,975 to reach target of $5,051 and beyond, while a drop below $4,893 may open the way to reach lower targets around $4,835 and $4,771.
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