Technical analysis by SroshMayi about Symbol PAXG: Sell recommendation (6/17/2025)

Gold Unlikely to Sustain Long-Term Gains on Israel-Iran TensionsDespite escalating geopolitical risks, gold’s upside remains limited. Julius Baer's Carsten Menke notes that the recent move is likely driven by short-term speculative and algorithmic flows, not physical safe-haven demand—consistent with historical patterns of brief geopolitical spikes.Technical Outlook:Gold is currently trading below 3404, suggesting possible range-bound consolidation between 3404 and 3480.A 1H close below 3380 could trigger further downside toward 3365 and 3347.Conversely, a break above 3404 would open the way for a bullish push toward 3448.Key Levels:• Pivot: 3381• Support: / 3365 / 3347 / 3321• Resistance: 3404/ 3420 / 3448