Technical analysis by Trade_and_Chill- about Symbol PAXG: Buy recommendation (12/23/2025)

Hello everyone, let’s take a look at XAUUSD today. Gold continues its strong rally, trading around 4,480 USD, up more than 111 USD compared to the same time yesterday. Notably, this marks a new all-time high, decisively breaking above the previous peak. The sharp rise is driven by surging safe-haven demand at the start of a shortened trading week due to holidays, amid escalating geopolitical tensions. Gold gained further momentum after weekend reports that the United States is pursuing a third oil tanker near Venezuela. According to a U.S. official, President Trump has intensified oil sanctions against the government of Nicolás Maduro. Bloomberg reported that the tanker being pursued was operating under a false flag and is subject to a court seizure order, believed to be the Bella 1, a Panama-flagged vessel sanctioned by the U.S. These actions follow earlier incidents in which the U.S. military boarded the supertanker Centuries and previously the vessel Skipper. The blockade appears to be pressuring Venezuela’s oil storage capacity and could lead to production declines and broader civil instability. From a technical perspective, the next upside target for February gold futures bulls is a break above the strong resistance at 4,500 USD per ounce. Initial support is seen at 4,400 USD, followed by the overnight low at 4,365 USD. I remain bullish on gold—what’s your view?