The easing of tensions between the US and Iran over the weekend boosted gold prices, causing a gap-up opening. However, recent price action has been lackluster, with rallies followed by pullbacks. Today was no exception, with gold continuing its downward trend after the initial surge. Overall, gold remains in a range-bound market. This week is a data week, and it's crucial to see if the data can provide any new opportunities for gold.

Gold is generally maintaining a range-bound pattern. Support levels to watch are around 4015-4030, while short-term resistance is in the 4075-4090 area. Only a break above the daily chart's upside potential will allow gold to break out of its current range.

Note: The current news is uncertain and rapidly changing. The market currently lacks confidence, and with this being a data week, the market needs confirmation from the data to strengthen confidence before a significant move can occur. Fortunately, for short-term trading, it's essential to identify the correct entry points based on support and resistance levels.