Technical analysis by DatTong about Symbol PAXG: Buy recommendation (10/3/2025)

Fundamental approach: - Gold climbed this week on safe-haven bids as the US government shutdown froze key data releases, amplifying uncertainty and driving a bid for defensives. - Softer ADP private payrolls and an ISM manufacturing print that remains in contraction supported bullion near record highs, with a softer dollar and easing Treasury yields boosting the appeal of non‑yielding assets. - Multiple independent outlets pointed to shutdown‑driven risk aversion, higher odds of Fed easing after weak ADP, and lingering geopolitical and policy risks as catalysts for stronger bullion demand. Technical approach: - Technically, XAUUSD is hovering near all‑time highs with no clear reversal signal; price holds well above key EMAs, underscoring strong upside momentum. - A clean breakout to new highs could open the door toward the confluence area of 4015-4045, where substantial profit-taking may emerge. - Failure to clear the peak increases the risk of a pullback toward support around 3770, where buyers may reassess the trend's strength. Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness