<div id="readability-page-1"><h2>FUNDAMENTAL OVERVIEW</h2><p>Gold rebounded in the final part of last week on hopes that Iran would accept the US war-ending proposal after Axios reported the two parties were getting close to a one-page memo and that US officials were expecting Iran's response to several key points in the following 48 hours. That was preceded by Trump pausing Project Freedom which was interpreted as another step towards a deal.</p><p>Unfortunately, both Trump and Iran rejected the respective proposals calling them unacceptable and leaving the two sides miles apart on any potential agreement. Moreover, Israeli PM Netanyahu confirmed that the removal of Iranian nuclear material remains an active war priority, and separate reports indicated that Trump told Netanyahu directly he wants to go in on Iranian nuclear sites.</p><p>This kind of headline noise has been going on for several weeks and kept the markets in rangebound mode as traders continued to wait for new developments before picking a direction. The unlimited ceasefire is acting as a floor, while the tensions and lack of breakthrough as a ceiling. </p><p>In the short-term, a resolution and the reopening of the Strait will likely support gold on falling oil prices and increased rate cut bets as inflation worries would ease. On the other hand, if the war restarts, we can expect gold prices to quickly fall back to March lows. </p><h2>GOLD TECHNICAL ANALYSIS – DAILY TIMEFRAME</h2><p>On the daily chart, we can see that gold rebounded in the final part of last week on hopes that Iran would accept the US war-ending proposal. Unfortunately, that hasn’t happened and we got a little pullback. The price is still trading right in the middle of the two key trendlines, so there’s not much we can glean from this timeframe. We need to zoom in to see some more details. </p><h2>GOLD TECHNICAL ANALYSIS – 4 HOUR TIMEFRAME</h2><p>On the 4 hour chart, we can see the price is bouncing on the key 4,650 support zone. This is where we can expect the buyers to step in with a defined risk below the support to position for a rally back into the 4,890 level. The sellers, on the other hand, will look for a break lower to pile in for a drop into the 4,350 level next. </p><h2>GOLD TECHNICAL ANALYSIS – 1 HOUR TIMEFRAME</h2><p>On the 1 hour chart, the recent price action might have formed a bullish flag, but we will need a break above the top trendline to confirm it. For now, the buyers will likely continue to pile in around the support and target a breakout to the upside, while the sellers will wait for a break below the support or a rejection around the top trendline. The red lines define the average daily range for today. </p><h2>UPCOMING CATALYSTS</h2><p>Tomorrow we get the US CPI report. On Wednesday, we have the US PPI data. On Thursday, we get the US Retail Sales report and the latest US Jobless Claims figures.</p></div>

GOLD

<p>Gold prices have consolidated as both the US and Iran rejected proposals to end ongoing conflicts, leaving negotiations stalled. Despite initial hopes for a resolution, tensions remain high, with Israeli PM Netanyahu emphasizing the importance of addressing Iranian nuclear material. In the short term, gold may be supported by falling oil prices and expectations of rate cuts, but a resurgence of conflict could lead to a decline in gold prices. Technical analysis shows gold is currently trading within key trendlines, with support at 4,650 and potential resistance at 4,890.</p>

Investinglive

Kinross Gold

Gold.com

Newmont

ZHONGJIN GOLD

Agnico Eagle Mines

SD-GOLD

EFUND GOLD MI-R

VanEck Gold Miners ETF

Microsectors Gold Miners 3x Leveraged ETN

Direxion Daily Jr Gold Miners Bull 2X

VanEck Junior Gold Miners ETF

Sprott JR Gold Miners ETF

Roundhill Gold Miners Weeklypay ETF

Sprott GLD Miners Etf

Pro Ultr GLD

Direxion Daily Gold Miners Bull 2X

GLOBAL X Gold Explorers

iShares MSCI Global Gold Miners

ChinaAMC Gold ETF

Us Gbl GLD & Met

Abrdn Gold ETF Trust

EFUND GOLD MI ETF

iShares Gold Trust

EFUND GOLD MI-U

SPDR Gold Shares

SPDR Gold Minishares

YieldMax Gold Miners Opt Inc Strgy ETF

Gold consolidates again as US and Iran reject the respective war-ending proposals