Technical analysis by FOREXcom about Symbol PAXG on 6/5/2025

Gold has turned lower on the day, slipping after it failed to hold above the key $3400 resistance level. Despite a major breakout in silver, gold couldn't ride the wave, turning negative as risk sentiment improved on news of a "very positive" Trump-Xi call and renewed US-China trade talks.The move also came alongside firmer commodity currencies and a rebound in USD/JPY, adding further pressure on the yellow metal.Technically, yesterday’s inside bar low at $3343 is now the immediate bearish target, with further downside potential toward the $3320–$3330 support zone. If the recent swing low near $3250 breaks, bulls could be in real trouble.By Fawad Razaqzada, market analyst with FOREX.com