Technical analysis by Zola_Hello about Symbol PAXG: Buy recommendation (1/3/2025)

XAU/USD trades near $2,660, moving sideways between key support at $2,580 - $2,590 and resistance at $2,710 - $2,720. The 34-day and 89-day EMAs provide dynamic support and resistance, maintaining the consolidation. Safe-haven demand remains strong due to ongoing tensions in the Middle East and the Russia-Ukraine conflict, supporting gold’s value.In the short term, a break above $2,720 could lead to $2,750, while a fall below $2,580 may push prices toward $2,550. Traders should monitor geopolitical events and economic data for clearer direction.