CoinEx News: Spot gold rose about 4.4% on August 5, hitting an intraday high of $4,264.93 and closing above $4,250 — its strongest level in nearly seven weeks. The rally pushed prices above the 50-day moving average near $4,160, a widely watched trend line that often triggers buying from systematic funds. A weaker US dollar and falling Treasury yields drove the move.

Positioning suggests the rally is not crowded. Speculative long positions remain low by historical standards. Trend-following funds known as CTAs still hold short positions — bets that prices will fall — and a sustained move higher could force them to buy back, adding fresh demand. Gold volatility has also cooled since the run earlier this year. The key test is whether gold holds above $4,160; falling back below it would mark a false breakout.