Technical analysis by ProfessorSingapore about Symbol PAXG: Buy recommendation (8/20/2025)

XAUUSD slided towards new support level On August 20, gold prices plummeted to around 3,310.00, approaching a three-week low, as the easing of geopolitical tensions and the strengthening of the U.S. dollar exerted pressure on the metal ahead of the Federal Reserve's Jackson Hole symposium. Trump ruled out ground troops in Ukraine but suggested air support, while Zelenskiy hailed talks as a step toward peace with Putin. The focus is on the speech by Fed Chair Powell and the release of the FOMC minutes later today, which may provide insights into the central bank's policy decisions. The market anticipates two 25-basis-point rate cuts this year, potentially starting in September. During Asian and early European trading hours today the price has been growing after a rebound from 3,310.00. Analysts expect the price to continue trading sideways within a range of 3,310.00 - 3,380.00 and move towards higher border of the range.