FundamentalOverviewGold managed to push intoyet another all-time high today. This bullish momentum has been building sinceFriday. The market continues to run by inertia as we haven’t got any strongnegative catalyst.Nonetheless, the Fed didn’tmatch the very dovish rate path priced in by the market and that could meanthat strong US data could trigger a hawkish repricing in interest ratesexpectations, especially considering the current divergence between the marketpricing and the Fed’s forecast. This in turn could offer apullback which would be similar to what happened last year. In the biggerpicture though, gold should remain in an uptrend as real yields will likelycontinue to fall amid the Fed’s dovish reaction function. In the short-term, hawkishrepricing in interest rates expectations will likely keep on triggering corrections.GoldTechnical Analysis – Daily TimeframeOn the daily chart, we cansee that gold managed to set yet another all-time high today. From a riskmanagement perspective, the buyers will have a better risk to reward setup aroundthe major trendline, while the sellers will look for abreak lower to extend the drop into the 3,120 level next. Such a big correctionmight happen if we get strong US data that triggers a hawkish repricing ininterest rates expectations.Gold Technical Analysis– 4 hour TimeframeOn the 4 hour chart, we cansee that the price bounced from the minor upward trendline around the 3,630level. The buyers will likely continue to lean on the trendline to keep pushinginto new highs, while the sellers will look for a break lower to pile in for adrop into the major trendline.Gold Technical Analysis– 1 hour TimeframeOn the 1 hour chart, we cansee that we have the top trendline around the 3,723 level that could act asresistance. The sellers will likely step in around these levels with a definedrisk above the trendline to position for a pullback into the minor upward trendline.The buyers, on the other hand, will want to see the price breaking higher toincrease the bullish bets into new highs, although it might not happen todaygiven that the price is already trading near the top of the average daily range for today.UpcomingCatalystsTomorrow we have the US Flash PMIs and FedChair Powell speaking. On Thursday, we get the latest US Jobless Claims figures.On Friday, we conclude the week with the US PCE report. This article was written by Giuseppe Dellamotta at investinglive.com.