Technical analysis by Zola_Hello about Symbol PAXG: Buy recommendation (1/11/2025)

Gold is inching closer to the $2,700 resistance level, like a warrior venturing into a final battle. After dipping to $2,660 in response to strong U.S. jobs data, XAU/USD quickly rebounded, but the $2,700–$2,723 zone remains a significant "fortress" to conquer. The daily chart reveals the EMA 34 and EMA 89 acting as "shields," protecting the uptrend and keeping prices above the critical $2,645 support zone.Market sentiment is torn: on one side, safe-haven demand pushes gold higher; on the other, the strength of the U.S. dollar and rising Treasury yields dim the shine of the precious metal. If gold breaks above $2,723, it could soar to $2,750 – a promising new peak. Conversely, if it falls below $2,645, selling pressure could drag prices down to the $2,586 zone, where buyers might re-enter the market.The current market resembles a tense chessboard, where every move carries both opportunity and risk. Will gold break through the limits and extend its rally, or succumb to the whirlpool of selling pressure? The answer lies in the upcoming NFP data and the moves of cautious investors.