Technical analysis by kalayciatilla1 about Symbol PAXG: Buy recommendation (2/6/2025)

The ounce of gold has been exhibiting a strong uptrend recently. When the chart is examined, it is seen that prices continue their upward movement by finding support at the 0.618 Fibonacci retracement level. The testing of new peak levels indicates an increase in the search for safe havens in the markets. Technically, it is noteworthy that the price is targeting the resistance zone above and there is no break in the current trend. On the fundamental side, US President Donald Trump's statements and uncertainty in global markets are among the important factors supporting the rise of the ounce of gold. In particular, developments regarding Gaza are decreasing the risk appetite in the markets and increasing the demand for gold. The lack of clarity in Trump's statements is increasing the concerns in the markets and pushing gold upward. At this point, the forward-looking policies of the Fed officials are also becoming a critical focus for investors. As a result, both technical and fundamental data indicate that the upward movement in the ounce of gold may continue in the short term. However, it is useful to follow the news flow in the markets closely.