Technical analysis by HavalMamar about Symbol PAXG: Sell recommendation (8/7/2025)

XAU/USD SHORT BIAS (at $3396) – Expecting a Sharp Decline Thesis: Gold is currently overextended at $3396, showing signs of exhaustion after a strong rally. Technical indicators and macroeconomic conditions suggest an imminent correction. Reasons for Bearish Outlook: 1.Overbought Conditions – RSI and momentum oscillators are at extreme highs; a retracement is statistically likely. 2.Strong Resistance – Price approaching a historical supply zone; failed breakouts are common at this level. 3.Dollar Strengthening – If DXY gains strength due to Fed policy, gold could see downward pressure. 4.Bond Yields Rising – Higher yields reduce gold’s appeal as a non-yielding asset. Target Zones: •Immediate target: $3310–$3290 •Deeper support: $3225–$3190 Risk: If gold breaks and holds above $3420, the short thesis may be invalidated.