August gold futures hover near $4,055 after rebounding from overnight lows, with $4,068 seen as critical for sustaining momentum.
August gold futures traded near $4,055, recovering from an overnight low of $4,024 but remaining below the key $4,068 resistance level. A break above this level is needed to strengthen the rebound, while a drop below $4,038 could signal further downside toward $4,031-$4,024 support.
The recovery follows a sharp decline from Wednesday’s high of $4,171, partially reversing losses but not yet erasing the broader downtrend. The previous bearish breakdown threshold at $4,116 was breached, triggering a move through downside targets.
Traders are monitoring the $4,038-$4,068 range as the current decision zone, with deeper support at $4,000 and bullish targets extending to $4,116 if resistance is cleared.