Technical analysis by KINGSLIGHTFX about Symbol PAXG on 6/21/2025

Gold ended a choppy week on a hopeful note, surging during the New York opening after Fed Governor Christopher Waller's comments hinted at a potential rate cut as early as July. However, most policymakers favor a wait-and-see approach, suggesting a possible delay until September. Meanwhile, escalating Middle East tensions could boost gold's appeal. Technically, gold's higher timeframe remains bullish, but the 1-hour chart shows a bearish correction to the $3,340 support. We'll monitor the market's opening closely. If gold stabilizes above $3,368, it could target $3,405, $3,425, or even $3,450. Conversely, a decline could lead to $3,333, $3,320, or $3,308.