Technical analysis by Market_Trader about Symbol PAXG: Buy recommendation (8/31/2025)

Looking back at this week's market, gold prices surged, approaching record highs, as investors weighed US economic data against uncertainty about the Federal Reserve's future direction. Recent data showed stubborn US inflation, prompting traders to increase bets on a September Fed rate cut, with the probability of a 25 basis point cut rising to 89%, up from 85% before the data was released. Quid believes that uncertainty over the Fed's independence continues to plague the market. At an emergency hearing on Friday, a federal judge indicated he would consider issuing an order blocking Trump's firing decision. Gold is benefiting from these concerns about the Fed's independence. Current risk aversion, a weakening dollar, and expectations of central bank gold purchases are all keeping bullish market sentiment high. Gold has risen again to 3,450. Is this number causing panic among many traders? Yes, higher prices lead to greater volatility. This is a rule; lower prices lead to lower volatility. This is the market driven by the size of the base. This week, gold prices surged, riding the wave of CPI data, reaching new highs, ultimately reaching around 3453. Having broken through this high, gold prices are still poised for a new high. While gold prices are showing signs of resistance, having reached a high near 3450, the previous consolidation is likely over. The second starting point of next week near 3428 is still crucial. If it stabilizes above this position, the bulls will continue to move upward.