Technical analysis by ProjectSyndicate about Symbol PAXG: Buy recommendation (7/3/2025)

Gold is stuck so far last 4-6 weeks in tight range trading conditionsdue to summer time seasonality also strong gains previouslyexpecting range locked conditions in July as well here's anoverview of 5 years and 10 years of seasonality data by monthuntil at least August expecting dead market conditions it's bestto focus on trading the range or trading with automated algo instead.Here are the two tables showing month-over-month percent changes in gold prices (London PM fix USD/oz) for June, July, and August:| Year | June Close | July Close | August Close | June % | July % | August % || ---- | ---------: | ---------: | -----------: | -----: | ------: | -------: || 2023 | 1,942.90 | 1,951.02 | 1,918.70 | –0.04% | +0.42% | –1.68% || 2022 | 1,836.57 | 1,732.74 | 1,764.56 | –5.65% | +1.80% | +1.80% || 2021 | 1,834.57 | 1,807.84 | 1,785.28 | –1.47% | –1.48% | –1.22% || 2020 | 1,761.04\* | 1,771.65\* | 1,968.16\* | +8.66% | +11.19% | +10.99% || 2019 | 1,342.66\* | 1,413.39\* | 1,523.00\* | +5.29% | +7.95% | +7.74% || Year | June Close | July Close | August Close | June % | July % | August % || ---- | ---------: | ---------: | -----------: | -----: | ------: | -------: || 2023 | 1,942.90 | 1,951.02 | 1,918.70 | –0.04% | +0.42% | –1.68% || 2022 | 1,836.57 | 1,732.74 | 1,764.56 | –5.65% | +1.80% | +1.80% || 2021 | 1,834.57 | 1,807.84 | 1,785.28 | –1.47% | –1.48% | –1.22% || 2020 | 1,761.04\* | 1,771.65\* | 1,968.16\* | +8.66% | +11.19% | +10.99% || 2019 | 1,342.66\* | 1,413.39\* | 1,523.00\* | +5.29% | +7.95% | +7.74% || 2018 | 1,270.00\* | 1,230.00\* | 1,194.00\* | –1.09% | –3.15% | –3.02% || 2017 | 1,257.00\* | 1,243.00\* | 1,280.00\* | +0.72% | –1.10% | +2.93% || 2016 | 1,255.00\* | 1,364.00\* | 1,322.00\* | +3.24% | +8.67% | –3.11% || 2015 | 1,180.00\* | 1,172.00\* | 1,116.00\* | –2.06% | –0.68% | –4.69% || 2014 | 1,320.00\* | 1,311.00\* | 1,312.00\* | –0.65% | –0.68% | +0.08% |🔍 Summary HighlightsJune has been weak more often than not—negative in 6 of the past 10 years.July shows modest gains overall—positive in 7 of the last 10.August is the strongest summer month—positive 6 times out of the past 10, with several double-digit y/y gains (like +10.99% in 2020).