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

Gold surged to around $3,373/oz today, rising over $22 compared to the same time yesterday, after weaker-than-expected U.S. jobs data sparked fresh demand for safe-haven assets.According to ADP, the U.S. private sector added just 37,000 jobs in May—far below the 115,000 forecast and April’s 60,000. The sharp slowdown in hiring suggests growing cracks in the U.S. labor market.This soft data has fueled expectations that the Federal Reserve may soon cut interest rates. With rising concerns over economic slowdown and global uncertainty, investors are increasingly turning to gold for protection.With strong fundamental support, gold’s bullish momentum looks set to continue in the short term.