Technical analysis by Confident_Step about Symbol PAXG: Buy recommendation (4/10/2025)

Analysis of gold trend:After gold experienced this round of decline in the first two trading days of this week, is the bull market still there? Can gold still rise? Has the upward trend changed? This is a topic of concern to all investors. Today, I will talk about my views from several aspects! First of all, gold’s current decline this week is due to the exhaustion of the good news, and the decline caused by the main players taking the opportunity to enter the market at a high level. This method is not uncommon. This happened several times during last year’s sustained rise. However, as long as the fundamental long-term support logic remains unchanged and the long-term good news remains, gold will still keep rising. Therefore, this sharp decline is difficult to continue and will not change the upward trend of gold. The only factor that changes the upward trend of gold is the change in the logic of fundamental support, which is not the case at present.From today's Wednesday Asian market performance, our logic has been verified. Secondly, the global economy is in a serious downturn, and Trump's tariff increase is just adding fuel to the already plummeting US. In fact, whether Trump increases tariffs or not, the plummeting of US stocks is inevitable. The plunge will inevitably cause a huge blow to the global capital market and investment market, and the impact transmitted to the real economy and global trade will continue to have a serious impact on the global economy. The economy will further decline, followed by the dual impact of inflation and deflation, and economic recession. Therefore, some institutions or predictions have set the expected target of gold prices at $3,200 in the future. Now it seems a bit unacceptable, but this is by no means alarmist, but what is happening! Today's support is around 3100, and the operation is mainly long. The upper side first pays attention to the previous high resistance of 3175, and further pays attention to the resistance of 3180.