Technical analysis by AndrewsMarket-Mastery about Symbol PAXG: Buy recommendation (8/25/2025)

On the daily chart, gold is consolidating within a rising triangle formation, supported by a trendline that has been respected multiple times since April. This structure demonstrates sustained demand and accumulation. The price action is now inching closer to the upper boundary around the $3,430–$3,450 region. If gold breaks and holds above this critical resistance, the path toward the $3,700–$4,000 zone opens, particularly if positive momentum returns. Fundamentally, the setup is strongly bullish. The Federal Reserve is increasingly expected to begin cutting rates in September, which would reduce the opportunity cost of holding non-yielding assets like gold—only 13% chance of a cut has now flipped to an 87% probability. Gold demand remains structurally robust: central banks are aggressively accumulating reserves—1,000+ tonnes are forecasted for 2025, marking the fourth consecutive year of record purchases. Meanwhile, institutional players like Goldman Sachs and UBS are projecting gold to reach \$3,700 by year-end and potentially $4,000 by mid-2026. Despite short-term price pullbacks due to dollar strength, gold's long-term narrative remains intact. Recent inflows into gold ETFs and recovery from trendline support positions gold well for the next leg higher.