Technical analysis by GoldenViewJake about Symbol PAXG: Sell recommendation (6/2/2025)

Gold prices fell and the dollar rose last Friday as the market digested the latest tariff developments, while a weaker inflation report kept hopes of a U.S. rate cut alive. Spot gold was at $3,290.40 an ounce, down 0.82%, and down more than 2% last week.Tariffs may re-sway the market this week after a federal appeals court temporarily reinstated Trump's tariffs on Thursday, and Federal Reserve Chairman Powell will also give an opening speech at an event on Tuesday, his first speech since meeting with Trump last week. Meanwhile, several Fed officials will speak this week. Gold prices may continue to test the middle track of the Bollinger Band near 3,300 this week, and are expected to test near 3,250 if geopolitical tensions ease.Gold prices rose to 3322 in the Asian session last Friday and then started to fall. As of now, the lowest price has retreated to 3270. At present, it is not ruled out that gold will fluctuate widely. From the daily level, the continuous negative turns positive and stabilizes above the middle track of Bollinger again. The stochastic indicator is blunted. With the rebound of gold prices, the green short momentum has weakened. KDJ also shows signs of repair after experiencing a high-level dead cross. The 4-hour Bollinger Bands show a narrowing pattern, and the moving average system will usher in a downward correction in the short term. As Trump's tariff trade is temporarily effective, the short-term trend of gold is expected to continue to fluctuate widely, and the long-term trend is definitely bullish.Pay attention to the short-term pressure of 3325 on the upper side during the day. Once it stabilizes above 3325, it will be seen that this wave of rebound and rise can continue to around 3365. Pay attention to the support of 3270-3260 in the short term. Further support is 3245. After the European and American sessions rose last Friday, gold has been under pressure at 3310 and cannot break through. Then gold will continue to be short at highs under pressure at 3320 this week. Bearish correction downward, look at 3270-3260, wait for the price to return to this position and then follow up with the long position.Overall, the short-term operation strategy for gold today is to sell on the rebound and buy on the pullback. The short-term focus on the upper resistance of 3320-3330 and the short-term focus on the lower support of 3280-3270.Gold strategy:Buy range: 3280-3278, SL: 3268, TP: 3300-3310Sell range: 3328-3330, SL: 3340, TP: 3310-3300Key points:First support: 3280, second support: 3270, third support: 3230First resistance: 3330, second resistance: 3340, third resistance: 3350Share my views for free every day