Technical analysis by SivaArjun about Symbol PAXG: Buy recommendation (9 hour ago)

Gold’s latest breakout signals a shift in market psychology rather than a simple technical rebound. Traders are rotating back into duration-sensitive hedges as real yields soften and the dollar stabilizes. Monday’s strong bullish candle and a decisive close above the 20-day moving average have reignited systematic buying flows into the metal. From a technical standpoint, gold’s structure now targets the $4,200 resistance zone, followed by a potential extension toward $4,400 if momentum continues. Support remains near $3,900, which marks the level where trend followers could defend their positions on any pullback. Macro conditions continue to favor the metal: US yields have eased slightly, lowering the opportunity cost of holding non-yielding assets. The US Dollar Index remains range-bound, removing a key headwind. Global equities show defensive rotation, reinforcing gold’s appeal as a portfolio hedge. Over the coming weeks, gold’s path will depend heavily on US CPI data, upcoming Federal Reserve communications, and fiscal developments in Washington. Softer inflation or a dovish tone could drive yields lower and sustain gold’s bullish trajectory into December. However, if inflation surprises to the upside or the Fed pushes back on easing expectations, a short-term correction toward $3,900 may occur. Overall, the trend bias remains positive, but momentum is highly data-sensitive in the near term. 🎯 Summary Target: Immediate Target: $4,200 Extended Target: $4,400 Support Zone: $3,900 Bias: Bullish (as long as real yields stay contained and USD remains neutral)