Gold Rebounds Above $4,432 Amid Short-Term Bullish Bias

Gold futures have rebounded above $4,432 after declining from its high of $4,697.70 to the September 2 low of $4,329.20.

The market closed near $4,439, placing price above the weekly Buy 1 level of $4,432 and indicating a short-term reversal attempt by buyers.

The VC PMI identifies $4,396 as the daily mean and $4,593 as the weekly mean, with holding above the daily mean maintaining a bullish short-term bias and making $4,463, the daily Sell 1 level, the first upside objective.

A successful close above $4,463 would activate the daily Sell 2 target at $4,511, while on the downside, a close below $4,432 would weaken the recovery and reopen the daily mean near $4,396.