Technical analysis by Henrybillion about Symbol PAXG on 4/15/2025

After surging more than $200 last week and surpassing the $3,200 mark in just one go, the international gold price once again hit a record high of $3,245.51 early Monday morning (April 14) and this wave of growth seems to continue. There are very few safe-haven assets left in the market and gold has become the top choice.Trump's latest remarks have sparked a new wave of risk aversion, boosting gold pricesUS President Trump gave a recent speech in which he announced that tariffs on semiconductors will be announced next week. In addition, the semiconductor tariff will take effect in the near future.When asked about the tariff on iPhones, Trump said the announcement will be made soon but there must be flexibility.Trump also said that foreign companies should not be allowed to control the US steel industry.Earlier, the US Customs and Border Protection (CBP) quietly adjusted the tariffs on the evening of 11th local time, exempting about 20 products including smartphones, computers, memory chips and some semiconductor manufacturing equipment from import duties, which were not affected by the previously announced "reciprocal tariffs" and did not specify which countries.Hassett, director of the US National Economic Council, pointed out that the US government is investigating semiconductors under Section 232 of the Trade Expansion Act of 1962. The provision he mentioned allows the president to restrict imports of products deemed important to US national security after an investigation.Earlier on Sunday, US Commerce Secretary Mark Lutnick said on television that the exemptions on electronic products and components are only temporary and that the US will soon propose separate tariffs on electronic products.Gold prices have risen more than 20% this year as investors flock to safe-haven assets. Trump's rapidly changing trade policies have raised concerns about a global recession, causing sharp swings in stocks, bonds and the US Dollar.Gold Price Technical OutlookXAUUSDBullish conditions remain dominant on the daily chart with the trend channel (a) as the main trend and key support at the EMA21In the short term, gold is currently supported by the $3,200 flat level noted in the previous issue and closer to home, the 0.786% Fibonacci extension level, which also provides upside conditions to the next target of $3,295.The RSI is sloping upward, which depicts strong bullish momentum that reinforces the current bullish outlook.Even if there are corrections below the original price of 3,200 USD, as long as gold remains within the price channel (a) and above Ema21, it still has a bullish technical outlook, the declines should only be considered as short-term corrections and not a fixed trend, or considered as a buying opportunity.During the day, the main bullish outlook for gold will be focused on the following positions.Support: 3,223 – 3,200 – 3,166 USDResistance: 3,245 – 3,295 USDThe article ends here, wishing readers a productive and happy working day