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

Fundamental approach: - Gold gained this week, supported by renewed trade tensions following new US tariffs on major partners and rising expectations of a Fed rate cut in Sep. - Safe-haven demand strengthened after weak US NFP data heightened concerns about economic growth and reinforced market bets on monetary easing, while US President Trump's tariff announcements drove risk aversion. - Comments from Fed officials signaled openness to policy adjustments, keeping investors focused on future rate moves even as the US dollar softened and global equities stabilized. - XAUUSD could remain resilient if upcoming US labor and inflation data continue to disappoint. Technical approach: - XAUUSD fluctuates within a broad range. The price is forming a big Triangle Formation, awaiting an apparent breakout to determine the next movement. - If XAUUSD breaches above the Triangle Pattern and the resistance at 3433, the price may continue to advance with the measured target at 3600. - On the contrary, closing below support at 3560 may prompt XAUUSD to continue range-bound movement by retesting support at 3273. Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness