KEY POINTS:Gold remains stuck in a tight consolidation awaiting a breakoutMixed signals from US data leads to uncertainty on future Fed interest rates pathFed members are keeping a neutral stance with no clear hint on the timing for the next moveUS-Iran tensions remain in the spotlightTraders are still awaiting the US Supreme Court decision on Trump's tariffsFUNDAMENTALOVERVIEWGold continues toconsolidate around the all-time highs as traders await new catalysts for thenext direction. We have been getting some mixed signals in terms of US datarecently that might have capped the momentum. In fact, US core inflation missedexpectations leading to a slightly dovish repricing, but the strong US joblessclaims yesterday erased those bets. Fed members have been keeping a neutralstance with no clear signal on the timing of the next cut.On the geopolitical front, eyesare mainly on the US-Iran tensions. We got a small pullback in gold onWednesday after Trump seemed to suggest that a military action was no longer onthe table, but we also got reports from Fox News yesterday saying that US militaryassets were heading to the Middle East. This uncertainty is keeping traders onthe edge. Lastly, we are stillawaiting the US Supreme Court decision on Trump’s tariffs which could lead tosome downside in gold in the short-term in case tariffs are struck down. Infact, such a decision would ease stagflation risks and raise global growth prospects.GOLD TECHNICALANALYSIS – DAILY TIMEFRAMEOn the daily chart, we cansee that gold is still consolidating above the top trendline. The buyerscontinue to pile in with a defined risk below the trendline to keep pushinginto new highs. The sellers, on the other hand, will want to see the pricefalling back below the trendline to target a pullback into the bottom trendlinearound the 4300 level. GOLD TECHNICAL ANALYSIS – 4HOUR TIMEFRAMEOn the 4 hour chart, we cansee more clearly the consolidation above the top trendline. We can also seethat we have a minor upward trendline defining the bullish momentum. If we geta pullback into the trendline, we can expect the buyers to lean on it with adefined risk below it to position for a rally into new record highs with abetter risk to reward setup. The sellers, on the other hand, will look for abreak lower to increase the bearish bets into the next major trendline.GOLD TECHNICAL ANALYSIS – 1HOUR TIMEFRAMEOn the 1 hour chart, we cansee that the price is confined in a tight channel above the top trendline. Thebuyers will look for dip-buying opportunities around the bottom of the channeland the trendline, while the sellers will look for downside breaks to pile infor new lows and target the next major trendline. The red lines define the averagedaily range for today.UPCOMING CATALYSTSToday we get the November US Retail Sales and US PPI reports, so it’sgoing to be old data. The market will likely focus on the potential US SupremeCourt decision on Trump’s tariffs. Tomorrow, we get the latest US JoblessClaims figures. This article was written by Giuseppe Dellamotta at investinglive.com.