Technical analysis by IvyMorgan about Symbol PAXG: Sell recommendation (10/22/2025)

The gold market had a strong session, with the gold futures contract falling more than 5.39% in one day, the largest decline since June 2013. This decline represents a correction after a period of rapid gains, prompting many traders to reevaluate the short-term trend. Explanation of the decline includes: a correction after strong growth as gold has risen by 128% since 2011 without any major corrections. The contrast with silver, which fell by 7.2%, supports gold continuing its decline while silver maintains its stable rise. Historically, a rise from around $2,500 to over $4,200 without any consolidation has led to a strong reversal, as yesterday's drop showed. With the double top pattern completed and the neckline broken, gold could reach strong support at $4,000 or lower if the decline continues. Current resistance is at $4,200.