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

Yesterday, gold was like a roller coaster, first touching the 3,400 mark and then taking a sharp turn downward. After the heads of China and the United States spoke on the phone, the news of revitalizing the market has subsided the risk aversion sentiment. The decline has basically not stopped for too long, and the lowest point has reached 3,340.Today, the market will focus on the US NFP data. The market expects that 130,000 new jobs will be added and the unemployment rate will remain unchanged at 4.2%.If the NFP data is far worse than expected, it may continue to hit the US dollar and stimulate a sharp rise in gold prices.On the contrary, if it is higher than expected, it may also cause the US dollar to rebound and gold prices to continue to fluctuate at a low level.At the same time, we also need to pay attention to whether Trump will continue to speak, because yesterday Trump and Musk's quarrel caused the US stock market to plummet across the board. Therefore, it is not ruled out that Trump will come out to speak to boost the US stock market. Once the US stock market rebounds again, gold will inevitably be suppressed.From the 1-hour trend line, it is still in an upward state. 3330-3340 is just near the trend line, so this has become the key today.If it falls below 3330, it is very likely to test the 3300 mark again.On the contrary, if it can stabilize at 3330-3340, then gold has the possibility of testing 3400 again.Considering today's big data and some uncertain factors, I will only consider two positions, one of which is 3330-3340, and the second is 3300. As long as it does not fall below, you can enter the market.