Technical analysis by Eldric_Morran about Symbol PAXG: Sell recommendation (11/6/2025)

The gold price rose slightly in the middle of the week despite US employment data coming in well above expectations. However, behind this increase, there are signals that clearly show that the market has lost its purchasing power and the dollar continues to gain strength. The ADP report showed the U.S. created 42,000 new jobs, well above the 32,000 predicted. Additionally, ISM Services PMI data was announced as 52.4 — indicating that the economy remains consistently strong. This makes it difficult for the Fed to cut interest rates anytime soon and causes USD and bond yields to rise — a factor that usually weighs on gold. On the 4-hour chart, the gold price is restrained by the falling trend line drawn from the previous peak. The USD 4,020 level stands out as a strong resistance point and every contact creates harsh rejection signals. The current scenario shows that there is a high probability that gold will test the 4,020 level with a slight correction and then retreat to USD 3,800.