Gold is showing a short-term recovery after bouncing from the 4,520–4,550 support zone, but the overall market structure still remains bearish. Price is now struggling near the 4,690–4,720 resistance area, where sellers are actively defending. A breakout above 4,720 could push gold toward 4,770+, while rejection from current levels may continue the broader downtrend, especially if price falls below 4,650.