Technical analysis by Kmissok about Symbol PAXG: Sell recommendation (4/6/2025)

Gold (XAU) prices deepened their decline on Friday, sliding to a seven-day low of $3,015 before rebounding slightly, after remarks from Federal Reserve (Fed) Chair Jerome Powell suggested that inflation may accelerate again due to the impact of tariffs. At the time of writing, XAU/USD is trading at $3,029, representing a 2.70% drop.According to a Financial Times (FT) report, hedge funds faced their largest margin calls since the Covid-19 pandemic, triggered by President Trump’s Liberation Day announcement.The FOMO increase in gold prices is starting to show signs of stopping due to concerns about economic recession. Gold prices will continue to decline back to the price range below 3000, stabilizing the market again.Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:Resistance: $3054, $3076, $3105, $3135Support : $2998, $2953Trading：active