Technical analysis by MaxOnMarkets about Symbol PAXG on 5/23/2025

👀 Possible scenario:Gold (XAU) fell 0.61% on May 22 as cautious sentiment persisted amid U.S. deficit concerns. The House passed Trump’s tax reform, expected to add nearly $4 trillion to the deficit, deepening investor worries over fiscal stability. Uncertainty continues to support demand for safe-haven assets like gold.Traders are eyeing the U.S. existing home sales report, which will be released on May 23 at 14:30 GMT. The data may spark market volatility, particularly in USD pairs. Stronger-than-expected numbers could boost the dollar and pressure gold, while weaker data may lift gold on safe-haven demand.✅ Support and Resistance LevelsSupport level is now located at 3,214.00 .Now, the resistance level is located at 3,360.00