FundamentalOverviewThe end of the Israel-Iranwar caused the geopolitical risk premium to vanish and weighed on gold as thesafe haven flows reversed further.In the bigger picture, goldremains in an uptrend as real yields will likely continue to fall amid Fedeasing and just a hawkish repricing in rate cuts expectations could triggercorrections in the short term. The economic data in thenext months will be particularly important for the gold market as Fed memberssound inclined to cut earlier than expected or even more if the inflation dataremains soft or the labour market data deteriorates further. GoldTechnical Analysis – Daily TimeframeOn the daily chart, we cansee that gold continues to edge lower towards the major trendline helped also by the end of theconflict between Israel and Iran. From a risk management perspective, thebuyers will have a much better risk to reward setup around the trendline toposition for a rally into a new all-time high. The sellers, on the other hand,will want to see the price breaking lower to increase the bearish bets into the3120 level next.Gold Technical Analysis– 4 hour TimeframeOn the 4 hour chart, we cansee that the price bounced around the swing low at 3294 as the buyers steppedin with a defined risk below the level to position for a rally into new highs.The sellers might want to wait for the price to come into the downward trendlineto position for a drop into the major upward trendline with a better risk toreward setup.Gold Technical Analysis– 1 hour TimeframeOn the 1 hour chart, we cansee that we have a minor resistance zone around the 3340 level. That’s where wecan expect the sellers to step in with a defined risk above the level toposition for a drop into the major trendline. The buyers, on the other hand,will look for a break higher to increase the bullish bets into new highs. Thered lines define the average daily range for today.UpcomingCatalystsTomorrow, we get the latest US Jobless Claims figures and theFinal US Q1 GDP report. On Friday, we conclude the week with the US PCE priceindex and the Final University of Michigan Consumer Sentiment report. This article was written by Giuseppe Dellamotta at www.forexlive.com.