Technical analysis by FXNEWSCLUB about Symbol PAXG on 5/3/2025

Gold (XAU/USD) – Technical & Fundamental Analysis🔹 Technical AnalysisCurrent Price: $3,240.39Trend Context: Gold remains in a broad ascending channel, with price action currently consolidating below all-time highs (ATH). The structure remains bullish unless key support levels are decisively broken.Key Technical Levels:Resistance Zones:$3,339 – Monthly resistance zone$3,500 – Psychological round number$3,608 – All-Time High (ATH) extension zoneSupport Zones:$3,197 – Daily trendline support$2,957 – Monthly support and key demand zonePrice Scenarios:Bullish Scenario (Green Path):A successful hold above $3,197 and a break above $3,339 would likely trigger a retest of $3,500, with potential for continuation toward $3,608, supported by macro fundamentals.Bearish Scenario (Red Path):A break below $3,197 may lead to further downside toward the $3,000–$2,957 zone. Failure to hold that support could signal a deeper corrective phase within the broader uptrend.🔹 Fundamental Analysis1. U.S. Monetary Policy:Expectations of interest rate cuts by the Federal Reserve in late 2025 continue to support gold prices, as lower rates reduce the opportunity cost of holding non-yielding assets like gold.2. Inflation & Economic Outlook:Persistently elevated inflation and concerns of a potential economic slowdown or recession are keeping investor interest in gold high as a hedge against uncertainty.3. Geopolitical Risk:Geopolitical instability in regions such as Eastern Europe and the Middle East maintains a steady flow of safe-haven demand, adding support to gold.4. Central Bank Demand:Robust gold purchases by global central banks—especially from emerging markets—are strengthening long-term bullish sentiment.