Technical analysis by Market_Trader about Symbol PAXG: Buy recommendation (9/1/2025)

The gold market's rise in 2024 was mainly driven by Asian investors and central banks, and a new round of outbreak may come this fall. Key data will be released this week: the ISM manufacturing PMI on Tuesday, the JOLTS job vacancies on Wednesday, the ADP employment, initial jobless claims, and ISM services PMI on Thursday, and the August non-farm payroll data on Friday. Current questions about the Federal Reserve's independence, coupled with expectations of weak employment data, are all contributing to gold's continued upward trend. Gold retreated slightly in the early Asian session, and then rose straight up, reaching a high of around 3486. Perhaps there is a possibility of a new historical high? The continuous rise on the daily chart, coupled with the minimal pullback after encountering resistance, makes a significant technical correction unlikely. The current high level is sideways. When the market believes that the bullish risk has increased, there is always a process of accelerated rise. Given the bullish trend, it is difficult to see a peak. For the short-term trend, the bullish strategy is trend trading. Trading strategy: Go long near 3450, stop loss at 3440, profit range 3480-3490-3500.