$PAXG Holds Near $5,180 as Middle East Tensions Attracting Capital into Safe-haven Assets 📈
$PAXG is trading near the $5,180 mark after recovering from the $5,071 level. U.S. President Donald Trump said that the conflict in Middle East will end soon, but Islamic Revolutionary Guard Corps (IRGC) dismissed the claim. IRGC warned that Tehran will decide the outcome. This stance is keeping tensions high and boosting demand for safe assets. ⚠️
Traders should be cautious. According to the mixed signals from fundamental background, aggressive long positions in #PAXGUSDT are risky right now. Key US inflation CPI reports may change the situation of market: US CPI will be published on Wednesday 📅 and PCE on Friday 📅. These releases will influence Fed's stance, dollar demand, and g#PAXGUSDT prices.
Technically, $PAXG resistance sits at $5,200 and support at $5,100. Oscillators are showing positive signals, giving buyers some controls. But if #PAXG fails to hold above $5,100, a faster drop toward the $5,000 psychological level may follow. 👇
Geopolitical conditions are mainly driving the precious market for now. Watch US CPI and US PCE index for the next major movement in the market. Follow for more updates on precious metal market @TZ_Crypto_Insights