Technical analysis by Timonrosso about Symbol PAXG: Buy recommendation (4/17/2025)

Since the last update on Gold, the price hit the target yesterday at $3,337. Not only has it been awesome buying and investing in gold stocks, but also trading Gold upside with day trading has been a dream. So why has gold been going up and what's next? 🏦 Central banks are buying tons of gold, especially China — big demand! 🌍 Global tension’s heating up (Middle East, Russia, Taiwan) — so gold’s the safe haven. 💵 Weak USD & interest rate cut hopes make gold more attractive. 📉 Inflation fears aren't gone, so people hedge with gold. 📈 Breakout above resistance means traders are piling in for momentum. Technicals say that the price is going to continue up. It is going up with a slingshot formation of over 60 degrees steep. But if the uptrend holds, we will continue to see it hit the next target at $3,443. Not huge but it's something. Let's see. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.