FUNDAMENTALOVERVIEWGold has been regainingsome ground over the past few days, supported by a couple of optimisticdevelopments on the US-Iran front. On Monday, prices jumped after Trumpannounced on his Truth Social account a five-day ceasefire aimed at pavingthe way for “a complete and total resolution of the hostilities”. However, therally lost momentum as Iran denied Trump’s claims.Late yesterday, gold movedhigher again after Israel’sChannel 12 reported that a month-long ceasefire could be announced whilethe US and Iran negotiate 15 key points. Traders are now waiting to see whetherIran will accept the plan. If it does, gold could extend its gains toward the5,000 level. On the other hand, a rejection might put prices back underpressure, potentially dragging gold down toward 4,000.GOLD TECHNICALANALYSIS – DAILY TIMEFRAMEOn the daily chart, we cansee that gold bounced near the 4,100 level as the selloff failed to extend intothe trendline around the 4,000 level. If the price reverses again and fallsinto the trendline, we can expect the buyers to step in with a defined riskbelow the 3,883 level to position for a rally into new all-time highs. The sellers,on the other hand, will look for a break lower to increase the bearish betsinto the 3,400 level next.GOLD TECHNICAL ANALYSIS – 4HOUR TIMEFRAMEOn the 4 hour chart, we cansee the price broke above the downward trendline yesterday and shot higher asmore buyers piled in targeting the 4,700 level where we have the most recent swinghigh and the broken trendline. If the price gets there, we can expect thesellers to step in with a defined risk above the resistance to position for a dropinto the 4,000 level. The buyers, on the other hand, will look for a break higherto increase the bullish bets into the 5,000 level next.GOLD TECHNICAL ANALYSIS – 1HOUR TIMEFRAMEOn the 1 hour chart, we havea minor upward trendline defining the bullish momentum on this timeframe. If weget a pullback, we can expect the buyers to lean on the trendline with adefined risk below it to keep pushing into new highs. The sellers, on the otherhand, will look for a break lower to pile in for a drop into the 4,000 levelnext. The red lines define the average daily range for today. UPCOMING CATALYSTSTomorrow we get the latest US Jobless Claims figures and a potential US-Iranmeeting in Islamabad. The focus is now on US-Iran negotiations. This article was written by Giuseppe Dellamotta at investinglive.com.