Technical analysis by AndyHopkins about Symbol PAXG: Buy recommendation (17 hour ago)

【PBOC Increases Gold Reserves for 7th Consecutive Month】The People’s Bank of China (PBOC) reported that China’s gold reserves reached 73.83 million ounces (approximately 2,296.37 tons) by the end of May, an increase of 60,000 ounces (approximately 1.86 tons) from the previous month, marking the 7th consecutive month of gold purchases.- Positive Signal TransmissionThe PBOC’s gold purchases signal the importance of gold as a safe-haven asset and demonstrate long-term confidence in gold assets, enhancing investor confidence in the gold market. When investors observe the central bank’s continuous gold acquisitions, they perceive gold as a high-value investment, which increases gold investments, further boosting market demand and influencing supply-demand dynamics. This creates positive upward momentum for gold prices.- Market Sentiment StabilizationDuring periods of financial market volatility, the central bank’s gold purchases stabilize market sentiment, preventing drastic price swings driven by panic or other emotions. This contributes to the healthy and stable development of the gold market, supporting a relatively stable long-term upward trend in gold prices and providing a solid foundation for price stability.Gold analysis and strategy for next week, hope it helps youXAUUSD BUY@3300~3310SL:3290TP:3320~3330