Technical analysis by lixing_gan about Symbol PAXG on 6/18/2025

Fundamental PerspectiveGold prices slipped as a stronger dollar weighed on dollar-denominated assets despite escalating Middle East tensions. Traders are closely monitoring the upcoming FOMC meeting for clues on interest rate direction, with cautious sentiment limiting gold's near-term momentum. However, central bank demand remains a strong tailwind, as a World Gold Council survey shows 95% expect global gold reserves to grow, with a record 43% planning to boost their holdings.Technical PerspectiveXAUUSD is holding within the ascending channel and rebounded above the support zone at 3300. Sustaining its upward momentum could prompt a rally toward the swing high at 3500. Conversely, a retracement could prompt a retest of the channel's lower bound and support at 3300. A break below the 3300 support could prompt a further decline toward the next low at 3200.