Technical analysis by KlejdiCuni about Symbol PAXG: Buy recommendation (8/1/2025)

GOLD: Be careful, It's More Complex Than it Seems After the NFP data came in at 73k vs. the expected 110k, the market reacted aggressively to the US dollar. Today, the US dollar was affected on two fronts. One was the NFP data and the other was the mess that President Trump is creating with his tariffs against many countries. Uncertainty regarding the future impact of the tariffs remains high and unknown. After the NFP data GOLD reacted aggressively against the US dollar by breaking easily two small structural areas towards 3315 and 3334. A possible correction is expected before gold moves further to 3370; 3400 and 3400, as shown in the chart. You may find more details in the chart! Thank you and Good Luck! PS: Please support with a like or comment if you find this analysis useful for your trading dayFrom our previous analysis, gold reached the first target and is taking a short break. Volume is very low, but the candles are still rising and are all green and bullish. I can't say that we have many fundamental factors to support the move up because it is all old material, but as long as the entire market is positioned for another wave up, it could happen. However, the price needs to break the first target with determination to move higher. It seems that the bearish movement will not occur near the first area.