Technical analysis by Gold_Hunters_Club about Symbol PAXG: Sell recommendation (8/11/2025)

Gold seems to have entered a consolidation phase around $3,400 per troy ounce, giving up some gains after previous highs over $3,410. The announcement that the United States would tax one-kilo and 100-ounce gold bars is also supportive of the precious metal. Gold Price steadies in the spot markets, yet the futures reached a record high of $3,534 on reports that the United States (US) will apply tariffs on imports of Gold bars. Besides this, market players continued to digest US economic data revealed during the week as traders brace for the release of inflation figures next week. The XAU/USD trades at $3,397, virtually unchanged. During the overnight session, the price spread between New York Comex futures and spot prices widened by more than $100, as revealed by Reuters after the Financial Times reported on Thursday that the US imposed tariffs on one-kilo Gold bars, citing a letter from US Customs & Border Protection.