Gold prices have rebounded to around $4,150 per ounce after holding a key technical support level, driven by dip buying and short covering. This recovery marks a notable turnaround following recent market fluctuations.
According to FX Street, Bart Melek of TD Securities highlighted that the rebound is primarily due to investors stepping in to buy on the dip and covering short positions, reinforcing the support level.
For Japanese investors, this movement in gold prices comes at a time when safe-haven assets remain in focus amid ongoing volatility in FX and equity markets.