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

After a brief period of consolidation, gold appears to be gradually regaining momentum. Buyers were able to defend the $3,990 area, making it a strong support base paving the way for the current bullish wave. On the 1H time frame, a clear bullish structure is forming, with prices recording higher highs and lows than before, reflecting the return of purchasing liquidity flow into the market. The $4,040 level represents a critical barrier for gold; Consistently exceeding it could open the way towards $4,070-$4,100 in the near term. If this area fails to penetrate, the market may witness a temporary correction before resuming the upward trend. At the same time, demand for safe assets continues to support the precious metal, which enhances the chances of its continued rise in the short term.