Technical analysis by BurgessMurray about Symbol PAXG on 5/12/2025

The current market sentiment is undergoing a significant shift from risk aversion to risk appetite. The easing of trade tensions has greatly boosted market risk appetite, leading to a large-scale outflow of funds from safe-haven assets such as gold.Considering the positive impact of the tariff agreement, gold prices may face further downward pressure. Technical analysis shows that once it falls below the $3,200 mark, the next support level is around $3,150. The further weakening of market risk aversion and the strengthening of the US dollar will continue to suppress gold prices.The 1-hour moving average of gold continues to cross the downward short position, proving that there is still room for gold to go down. Based on the short-term resistance area near 3250, continue to short gold on rallies.Gold still has not broken through the resistance area, and continues to short on rallies