Technical analysis by Richtv_official about Symbol PAXG on 5/29/2025

Overview:Gold XAUUSD on the 4-hour chart is currently in a corrective phase after a recent bounce, but the overall structure remains bearish with clear downside risk.________________________________________Key Observations:Price Action:Gold is trading around $3,319 after a recent rebound from the $3,272–$3,243 support zone. The price is now testing a resistance area highlighted by the previous consolidation zone, suggesting that upside momentum is facing challenges.Supply and Demand Zones:•There is a visible supply (resistance) zone around $3,320–$3,340, where sellers previously stepped in.•Multiple demand (support) zones are marked below, especially near the Fibonacci retracement levels at $3,272 (38.2%), $3,243 (50.0%), and $3,214 (61.8%).Fibonacci Levels:The chart uses a Fibonacci retracement from the recent swing low to high:•38.2% at $3,272•50% at $3,243•61.8% at $3,214These levels are aligning with key demand zones, increasing their significance for potential bounces or reversals.Trend Structure:Despite the recent recovery, lower highs and lower lows dominate the chart, indicating a bearish trend. The failure to break above the $3,340 resistance keeps the downside scenario in play.________________________________________Fundamental DriversSafe-Haven Demand Weakening:Easing tariff risks and improved global risk sentiment have reduced demand for gold as a safe-haven asset. The recent US court ruling against Trump-era tariffs and expectations of a Federal Reserve rate cut later in 2025 are shifting market dynamics.Macro Themes:•A hawkish Fed or further de-escalation of geopolitical tensions could pressure gold lower.•Persistent inflation or renewed global risks could limit the downside and trigger rebounds