Technical analysis by Bentradegold about Symbol PAXG: Buy recommendation (3/4/2025)

Dear friends, Ben here!Gold has broken out of its bullish channel, sparking an impressive surge and currently trading above a key intermediate range. Notably, there has been no pullback following the strong rally. Instead, the market is consolidating—a sign of a solid support zone.What’s driving gold’s bullish momentum?-Economic Policy Support: Trade tensions under the Trump administration and expectations of a Fed rate cut continue to fuel gold’s rally.-Caution Ahead of the Fed’s Speech: Investors are closely watching the Federal Reserve’s statements, as any signals on monetary policy could trigger market fluctuations.-Economic & Geopolitical Risks: Fears of a global slowdown, trade conflicts, and escalating geopolitical tensions are strengthening demand for gold as a safe-haven asset.Technical Outlook:-If gold holds above 2993, we could see further strong upward momentum.-However, a temporary correction may occur, with the liquidity zone between 2981 – 2977 acting as a key support level before a potential rebound.Trading Strategy:Watch price action around 2993—if buyers maintain control, be prepared for another strong rally! However, if the price retraces, the 2981 – 2977 area could present an attractive entry point for long positions.Best regards, Bentradegold!