Fundamentals: Gold prices touched a low of $4,268 on Monday before rebounding and stabilizing, as signals of ceasefire from Israel and Iran eased safe-haven pressures. Just as the market worries whether gold prices will further collapse, bullish forces are quietly gathering, pushing prices to gradually recover. However, strong US employment data has boosted expectations of interest rate hikes, keeping the dollar high and limiting gold price gains. The market is awaiting this week's CPI and PPI data to assess the Federal Reserve's next interest rate path.

Technical: Gold on the H4 timeframe declined again and is trading below the 48-day bullish-bearish dividing line. Additionally, the MACD double lines and volume bars are expanding below the zero axis. The potential risks in the Strait of Hormuz, fluctuations in energy prices, and ongoing concerns from central banks about inflation all provide fundamental support for gold.

Resistance and support levels:
First resistance: 4200.00
First support: 4160.00
Second resistance: 4217.00
Second support: 4143.00