Gold futures rebounded Thursday, closing near $4,180 after dropping $150 to $4,110 to start the week. The recovery comes as the probability of a rate hike at the October FOMC meeting declines to roughly 25%, though a hike by year-end remains priced into the market. Meanwhile, the CVOL Index indicates steady, declining volatility even as gold prices attempt to rally. In the most recent data, speculators were seen modestly reducing their net long positions ahead of Monday's selloff, leaving traders to monitor how positioning shifts following the mid-week bounce.