Technical analysis by IvyMorgan about Symbol PAXG: Buy recommendation (10/21/2025)

Gold is trading near $4,345 an ounce after a strong rebound from the 4,100 level. The general trend on the four-hour frame remains positive, as uncovered price gaps (FVG) remain below the price and indicate continued upward momentum. As long as the price remains above $4,300, targeting the resistance area between 4,400 and 4,450 remains possible. Any decline towards 4,200–4,100 would act as a healthy correction and accumulate liquidity before continuing the potential rise. In terms of fundamentals, gold is benefiting from expectations of interest rate cuts by the Federal Reserve as US economic indicators slow. Growing fears of a government shutdown in the United States support demand for safe havens. HSBC also raised its gold forecast for 2025–2026, while Goldman Sachs stresses that the current buying spree is based on real inflows from institutions, not just short-term speculation.