Technical analysis by lixing_gan about Symbol PAXG: Sell recommendation (7/10/2025)

Gold climbed toward $3,320 per troy ounce as trade tensions and Fed uncertainty boosted safe-haven demand. A weaker dollar supported gains after President Trump escalated tariff threats, this time targeting Brazil, deepening concerns about global trade disruptions. Meanwhile, the Fed's June meeting minutes revealed a divided stance on rate cuts as some officials favored easing as early as July, while others saw no need for cuts this year. XAUUSD is trading near the top of a descending channel, hovering around 3,322 after rebounding off support at 3,280, indicating a possible challenge of the channel's resistance near 3340.If XAUUSD breaks above 3,340, the move could trigger further upside toward the next resistance at 3,360.Conversely, a rejection from current levels and a drop below 3,280 may see the price slide back toward the lower support at 3,250.By Li Xing Gan, Financial Markets Strategist Consultant to Exness