Technical analysis by Steffen_Schade about Symbol PAXG: Buy recommendation (6/12/2025)

After the Asian session began, gold began to rise rapidly, and the original plan to short gold near 3355 had to be cancelled. After gold touched 3374, it fell back slightly, but after retreating to 3357, it rebounded again and broke through the short-term suppression near 3370 again. At present, gold still has the potential to rise further.According to the current structure, gold has formed an oscillating upward structure, and the lows have been rising. After breaking through the short-term resistance area of ​​3360-3370, the willingness to rise has strengthened. Gold is expected to usher in a second rise and test the 3380-3390 area. If it breaks through this area, gold is even expected to continue to the 3410-3420 area. As gold rises, the gold support area rises to the 3360-3350 area.So for short-term trading, we can try to go long on gold while controlling the risk after gold retreats to the 3360-3350 area!Gold has just retreated to around 3338, but quickly recovered. The candle chart shows an obvious long lower shadow. Gold still has the potential to rebound. We have made good profits by trading long gold near 3350 as planned. It is a pity that gold fluctuates too fast and we have not been able to add positions to go long gold near 3340 in time. Let's see if gold can rise above 3380 as expected.Successfully hit TP: 3380! Although we waited for a long time today, TP is the best reward for our patience!