Technical analysis by KevinSterling about Symbol PAXG: Buy recommendation (3/21/2025)

XAUUSD completed a correction phase, breaking through the resistance channel and consolidating above the downward trend line. Traders are awaiting economic data and developments in the trade war tariffs.Trump has confirmed plans to implement tariffs on April 2nd, limiting exemptions. Additionally, precious metals are benefiting from a steady stream of safe-haven demand amid ongoing market instability primarily driven by US policies. Markets are also monitoring negotiations between the United States, Ukraine and Russia. The focus is also on US personal consumption expenditure data to be released on Friday, which will provide more clarity on the Federal Reserve's interest rate cut trajectory. At last week's meeting, the Fed maintained benchmark rates and left open the possibility of rate cuts later this year, providing support for gold.Gold may test support levels before further gains. The focus is on current consolidation between 3033 - 3013. An important resistance threshold is forming ahead, with a breakthrough of this zone potentially stimulating continued growth toward 3045 - 3056.