Technical analysis by ctlpopa about Symbol PAXG: Buy recommendation (2/4/2025)

Gold breaks through the critical resistance level of 2817, signaling strong upward momentum and potential for further growth.After successfully breaching the key psychological level of 2817, gold confirms a valid breakout, supported by robust fundamentals such as high inflation, global economic uncertainty, and a growing demand for safe-haven assets.The previous resistance at 2817 now serves as a strong support level, indicating that prices are poised to climb toward new all-time highs. Market sentiment remains bullish, with investors favoring gold as a hedge against volatile monetary policies and geopolitical risks.The Federal Reserve’s cautious stance on interest rate adjustments continues to enhance gold’s appeal. Moreover, recent pullbacks have been shallow, highlighting strong buying interest.