Technical analysis by RLinda about Symbol PAXG: Buy recommendation (6/13/2025)

XAUUSD is updating its interim highs as it retests resistance at 3435 amid escalating tensions in the Middle East. Economic risks are on the rise...Gold rose 1.5% on Friday in Asian trading as investors sought refuge from escalating tensions between Israel and Iran. The price approached 7-week highs and could reach $3,500 if the conflict intensifies. The US and Israel have warned of serious consequences, while Iran has promised to respond. Geopolitics has overshadowed economic news, and markets are pricing in the possibility of a Fed rate cut in September. Technically, the price is emerging from a local consolidation and testing a fairly important resistance level, forming a false breakout and correction. But this does not mean that the price will fall...Resistance levels: 3425, 3435, 3461Support levels: 3408, 3400, 3377If gold consolidates above 3425 and continues to storm the resistance, growth may continue, and at the moment, there is a fairly high probability of a retest of the ATH. However, the ideal scenario would be a retest of the zone of interest 3408 - 3400 and the capture of liquidity before continuing growth.Best regards, R. Linda!