Technical analysis by ElenaMayi about Symbol PAXG: Buy recommendation (3/12/2025)

Investors await U.S. Consumer Price Index (CPI) data due later in the day to analyze the Fed’s interest rate stance going forward this year.If rising price pressures force the Fed to keep interest rates higher, gold may lose its allure as it is a non-yielding asset.The level of 2922 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 2922, it would confirm bullish continuation toward 2938 and 2955.Tendency Keys: 2922Resistance Line: 2922, 2938, 2955.Support Line: 2895, 2880, 2844Your feedback is valuable! If you agree or see something different, comment below—let’s exchange ideas!The price has reached the previous high zone, which is likely to trigger a brief correction before the bullish trend resumes.