Technical analysis by ChartsReadingByFahad about Symbol PAXG: Buy recommendation (5/6/2025)

In my view, gold is currently targeting the 4080 level on the daily timeframe. I anticipate this move could unfold by the end of this month or the beginning of the next. However, before reaching 4080, a short-term correction is likely — potentially a pullback in the range of 50 to 80 points, but not exceeding that.The recent sharp decline of nearly 300 points has eased the panic in the market — a significant move by any standard. Throughout this phase, both sellers and buyers have experienced liquidations: sellers on the way up and buyers waiting for a pullback that has yet to fully materialize.Gold has been moving aggressively, offering very few opportunities and often leaving most participants behind. Until the 4080 level is reached, I believe the optimal approach is to stay on the buyers’ side and look to capitalize on trades along the way.That said, once the 4080 level is reached, I expect a major panic drop of approximately 400 to 500 points. This is based on my personal experience and analysis — the rest is up to your own judgment and decision-making.