Gold Prices Rebound After Hitting Weekly Low

Gold prices bounced back after hitting a weekly low of $4,324, closing at $4,436.15 and rising 1.70% to $4,495.60 in COMEX December futures.

The 200-day simple moving average sits at $4,503.24, just $22 above the bear-market line at $4,481.78.

Gold demand hit a low of 942 tonnes in Q2, with investment flows halved compared to the previous quarter.

The reversal off $4,324 is seen as constructive on the chart, but experts note that gold's advance is driven by rate-expectation trade rather than safe-haven demand.