Technical analysis by SroshMayi about Symbol PAXG: Buy recommendation (7/8/2025)

XAUUSD – Market Overview Fundamental Outlook:Gold has recovered from prior losses, stabilizing on the back of renewed safe-haven demand amid escalating global trade tensions.Analysts point to growing concerns over a broader U.S.-led trade war, which has pushed investors toward gold as a defensive asset. While President Trump has delayed the reimplementation of tariffs until August 1 to allow for negotiation, markets remain cautious, and volatility is expected to persist. Technical Outlook:Gold is currently trading above the pivot level at 3320, which has a consolidation within 3320 - 3342 rangeStability above 3342 would likely extend the rally toward 3365, with 3356 as an intermediate resistance.However, a 1H candle close below 3320 could shift momentum back to bearish, targeting 3297 and 3281. Support Levels: 3312 / 3297 / 3281 Resistance Levels: 3342 / 3356 / 3365