Technical analysis by Louisa_King about Symbol PAXG on 3/12/2025

3.12/Analysis of the latest trend of the gold marketGold news analysisThe international spot gold price maintained a narrow range of fluctuations. Before the release of key economic data, the market fell into technical consolidation. Both long and short sides showed a cautious mentality, and the price fluctuation range narrowed to the smallest single-day amplitude in the past three weeks.Futures market position data: The position of the main contract of COMEX gold decreased by 2.3% from the previous trading day, indicating that some short-term funds chose to leave the market and wait and see.Key data nodes: The upcoming US February CPI data has become the focus of market attention. The median forecast of the core CPI monthly rate is 0.3%. If the actual reading is lower than this level, it may strengthen the market's expectation that the March FOMC meeting will release a loose signal.Summary: If the core inflation rate falls below 0.2% month-on-month, the probability of gold prices breaking through the resistance level of $2,930 will rise to more than 75%.Gold technical analysis:The continuity of the trend is the key.If the market turns bearish, it needs to continue to fall today, preferably below 2880, to confirm the bearish trend.If there is a rebound during the day, it will still be a volatile market.As long as the low of 2880 is not broken, gold has only changed a volatile range, and the bearish meaning is not great.Key support and resistance:Support levels: 2900, 2890, 2880. If these support levels are broken, the previous lows of 2850-2830 may be difficult to hold, and the possibility of further bottoming out increases.Resistance levels: 2930, 2935.Four-hour line: range oscillation.Intraday operation ideasOscillating market strategy:2922-2930: try shorting opportunities.2910-2905: try long opportunities.Short-term operation suggestions:Long on retracement lows, short on rebound highs.Upper resistance: 2930-2935.Support below: 2910-2900.