Technical analysis by GoldenSpaceship about Symbol PAXG: Sell recommendation (10/23/2025)

Market News: Spot gold continued its decline in early Asian trading on Thursday (October 23rd), currently trading around $4,070 per ounce. Yesterday, international gold prices experienced significant intraday volatility, with London gold prices plummeting to a near two-week low, indicating investors were taking profits ahead of Friday's key inflation data. However, trade tensions attracted some safe-haven buying, significantly paring the intraday decline by the close. Europe's clear response to Trump's call for a ceasefire between Russia and Ukraine offered hope of an end to the conflict. The prospect of the US government shutdown ending this week also reduced market uncertainty. Severely oversold technical conditions in precious metals triggered widespread profit-taking, with US gold ETFs shedding 125 tons of holdings, a drop of nearly 3%. Coupled with rising expectations of a dual-loan policy following the election of Japanese Prime Minister Sanae Takaichi, the weakening yen has passively strengthened the US dollar. These factors have put the current capital-driven rally in precious metals at risk. Technical Analysis: Gold is experiencing a daily correction with consecutive declines. The New York closing price fell below the 7/10 moving averages at 4203/4176 for the first time since August 20th. The RSI indicator has fallen back below the 50-day moving average, pushing the gold price back towards the middle Bollinger Band near the 4000 mark. The short-term four-hour moving average formed a downward crossover, with the price trading within the lower middle Bollinger Band. The RSI indicator is adjusting below the middle axis. The hourly moving averages are converging, with the Bollinger Band closing price adjusting towards the middle axis. In the short term, gold prices are expected to continue to experience weak, wide-ranging fluctuations. Today's trading strategy is primarily to sell high on rebounds, with buying low as a supplement. A friendly reminder: the recent market volatility, accompanied by rapid and chaotic market fluctuations, requires extreme caution when trading. Looking at the current market, the key focus for gold below is the battle for the 4000 mark. This level is currently near the 20-day moving average on the daily chart and the 5-week moving average on the weekly chart. Technically, a break below this level could trigger a mid-term correction. As a round number, if 4000 points holds, it indicates that buying sentiment remains. If this level is supported by fundamental news such as a Fed rate cut, a rebound is possible. If 4000 points holds, the two-day plunge can be viewed as a period of profit-taking, indicating that buying has not completely subsided. If 4000 points falls this week, sentiment could significantly dampen the previously frenzied bullish sentiment, potentially triggering further panic selling and potentially leading to a larger-scale correction. In summary, the focus on the battle for support around 4020-4000 is on the downside, with continued fluctuations likely above this support band. Gold Intraday Trading Strategy: Short-term gold buy at 4000-4005, stop loss at 3990, target at 4100-4130; Short-term gold sell at 4155-4160, stop loss at 4175, target at 4010-4030; Key Points: First Support Level: 4032, Second Support Level: 4000, Third Support Level: 3982 First Resistance Level: 4102, Second Resistance Level: 4133, Third Resistance Level: 4158