Technical analysis by KellyLondon about Symbol PAXG: Sell recommendation (6/9/2025)

The current gold market sentiment is in a cautious neutral state. The US dollar index is under pressure due to the US fiscal health issues and the downward trend of US bond yields, but last week's non-farm data suppressed the Fed's expectations of a rapid rate cut this year. Although risk aversion still exists, it has not formed enough synergy to push up gold. The market is cautiously optimistic about the prospects of high-level negotiations between important economies, and is wary of sudden fluctuations that may be caused by geopolitical risks. I believe that in the context of global geopolitical conflicts, the expansion of fiscal deficits in major economies, and the uncertainty of the monetary policy shift cycle, the medium- and long-term logic of gold still has support. However, before the Fed's expectation of maintaining a "high interest rate for longer" policy is loosened, the gold rebound path may be more tortuous, and it needs to rely on geopolitical or US dollar fluctuations to trigger a trend market.The 4-hour gold chart shows that gold has fallen after rising, breaking through the middle track support and breaking through the rising trend line at the same time. The trend line break point coincides with the middle track position. The subsequent decline space will gradually expand with the development of the pattern. There may be repeated shocks in the process, but the overall downward trend is clear. At present, the short-term momentum of gold has not been fully released. In the US market, I suggest selling in the 3345-3350 range, with the target pointing to the 3330-3310 area. If the short-term trend effectively breaks through the key support level, it may further open up the downward space.Repeat once! Sell gold near the rebound of 3345-3350, with the target of 3330-3310If you have doubts, you can look at my previous analysis, and you can find more information to prove that I am right!