Technical analysis by Xayah_trading about Symbol PAXG: Buy recommendation (11 hour ago)

XAUUSD rose sharply in the first session of the week, surpassing the 4,100 USD/ounce mark, a new record high, as investors sought refuge in the context of escalating trade tensions between the United States and China, along with expectations that the Federal Reserve (Fed) is about to start a cycle of interest rate cuts. Earlier, in the trading session on Monday, Spot Gold increased by 2.34% to 4,110.30 USD/ounce, reaching an intraday peak of 4,117.27 USD, massive speculative money flows into the precious metal as global political and trade uncertainties continue to dominate. Some investors believe that gold can easily maintain the current upward momentum, thanks to a combination of central bank buying, ETF inflows and expectations of Fed policy easing. US-China tensions spark safe-haven buying Gold prices accelerated after President Donald Trump announced a 100% tariff on imports from China and plans to control strategic software exports from November 1, a move seen as a response to Beijing's restrictions on exports of key minerals. Although Trump assured on social media that "everything will be fine", the market still saw this as the start of a new round of escalation in the trade war. The risk of additional 100% tariffs is still an unpriced variable and of course all risks are a lucrative bait for gold prices to continue to develop positively. Fed Moves Closer to Taper Cycle Expectations for Fed easing continue to underpin non-yielding gold. According to CME Group’s FedWatch tool, markets are pricing in a 97% chance of a 25 basis point cut in October, and a 100% chance of a cut in December. Chair Jerome Powell is scheduled to speak at the National Association for Business Economics (NABE) annual conference on Tuesday, which is expected to provide further clarity on the path of monetary policy during this delicate period. A host of other Fed officials are also due to speak this week, as global financial markets react strongly to signals from Washington. Gold Price Outlook: Long-Term Uptrend Strengthened According to the latest forecasts, Bank of America and Société Générale both see gold prices surpassing $5,000 an ounce by 2026, while Standard Chartered has raised its 2025 target to $4,488. Suki Cooper, global head of commodities research at Standard Chartered, said: “The current rally still has room to run. A short-term technical correction could be a positive signal for a more sustainable uptrend.” Finally, with trade tensions yet to ease and global monetary policy easing, gold continues to consolidate its position as a strategic haven asset in the current period of economic and geopolitical volatility. Technical Outlook Analysis XAUUSD Main trend: Gold continued its strong uptrend, closing around 4,142 USD/ounce, still within the main uptrend channel. Resistance: 4,162 – 4,213 – 4,286 USD Support: 4,100 – 4,060 – 4,000 USD RSI > 75 shows extremely strong buying momentum, but short-term overbought, a technical correction may appear. Overview: The medium-term uptrend remains intact, the next target is towards $4,300, as long as the price holds above $4,000. RSI warns of short-term fluctuations, prefer buying on corrections rather than chasing prices. SELL XAUUSD PRICE 4200 - 4198⚡️ ↠↠ Stop Loss 4204 →Take Profit 1 4192 ↨ →Take Profit 2 4186 BUY XAUUSD PRICE 4113 - 4115⚡️ ↠↠ Stop Loss 4109 →Take Profit 1 4121 ↨ →Take Profit 2 4127Plan BUY Hit Full TP2 + 130pips🤕🤕🤕. Congratulations everyone