Gold Price Holds 4,113 Support, but 4,235 and 4,335 Still Block the Bull Case - Action Forex

AI desk brief

Gold’s rebound from 4,110.50 almost perfectly tagged the 4,113.82 Fibonacci projection, keeping the decline from 4,697.07 framed as a corrective move for now. But the macro confirmation is missing: even after softer August PCE, the 10-year Treasury yield stayed near 5.30%, limiting the bull case and keeping the 4,234.68/4,334.57 resistance band intact.

The article says 4,110.50 is the key downside line, while a break above 4,235 would confirm a short-term bottom and a move through 4,335 would strengthen the argument that the broader decline has ended. Until then, the bounce is still just a recovery inside a downtrend, with ISM and NFP seen as the next catalysts via their impact on yields and Fed expectations.