Technical analysis by ElenaMayi about Symbol PAXG: Buy recommendation (3/5/2025)

Gold prices edged higher on Wednesday, aided by a weaker U.S. dollar and political uncertainty following the latest import tariffs announced by U.S. President Donald Trump, which have caused instability in the market.The level of 2919 may act as a temporary barrier, leading to a possible rejection as a corrective move before the price gathers enough momentum for a breakout. Such a correction would allow the market to absorb selling pressure and establish stronger support before resuming its upward movement. If the price successfully breaks above 2919, it would confirm bullish continuation, but if rejection occurs, the price will fall to touch 2859.Tendency Keys: 2919Resistance Line: 2918, 2938, 2955.Support Line: 2895, 2880, 2844The price briefly corrected to 2895 before rising and is now trading above 2918, moving toward the next target.