Technical analysis by SroshMayi about Symbol PAXG: Buy recommendation (6/16/2025)

GOLD – Safe-Haven Demand Lifts Gold, Eyes on New Highs if Tensions EscalateGold futures pared some gains after approaching fresh record highs earlier in the session. The metal rallied strongly on Friday as escalating Middle East tensions — particularly between Israel and Iran — drove investors toward safe-haven assets.Analysts note that if the conflict intensifies further in the coming days, new highs could be within reach for gold.Technical Outlook:A short-term correction toward 3404 or 3390 is likely. However, as long as the price holds above this support zone, the bullish trend is expected to continue toward 3448, with potential to reach 3486.For a bearish shift, the price must break below the 3391–3381 area with at least a confirmed 1H close, which would open the path toward 3347.Key Levels:• Resistance: 3431, 3449, 3486• Support: 3404, 3391, 3381