Gold Remains Under Pressure Amid Ongoing US-Iran Tensions

### Fundamental Overview Gold continues to consolidate near monthly lows as the ongoing US-Iran crisis keeps pressure on precious metals due to renewed inflation risks. Recent soft US inflation data has shifted the risk/reward balance towards the upside, but traders require clear signs of de-escalation to trigger a relief rally. Consequently, US-Iran headlines are expected to dominate price action in the near term, with de-escalatory news likely to support gold and spur short-term rallies, while further escalations could lead to additional downward pressure.

### Gold Technical Analysis – Daily Timeframe On the daily chart, gold remains near its monthly lows, influenced by the US-Iran conflict. A pullback towards the trendline may see sellers enter the market, positioning for a potential drop to the 3,885 level. Conversely, buyers will look for a break above the trendline to target the next resistance around 4,500.

### Gold Technical Analysis – 4 Hour Timeframe The 4-hour chart reveals a minor downward trendline that characterizes the current bearish structure. Sellers are likely to maintain pressure on this trendline, with defined risk above it, while buyers will seek a breakout to extend the pullback towards the major downward trendline.

### Gold Technical Analysis – 1 Hour Timeframe On the 1-hour chart, a minor upward trendline indicates a pullback into the downward trendline. Buyers may use this trendline as support to target a break above the downward trendline, while sellers will aim for a break lower to reinforce bearish positions towards the 3,885 level. The red lines on the chart denote today's average daily range.

### Upcoming Catalysts On Thursday, the latest US Jobless Claims figures will be released, followed by the Flash US PMIs on Friday. The market remains focused on developments regarding US-Iran tensions.