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Gold Overbought: Tempered Geopolitical Fears, Rising Yields Could Spook the Bulls
Published 1 year, 10 months ago
Description
Gold pulled back at the start of the week as geopolitical tensions eased and the focus shifted to US economic data and earnings reports.
The yellow metal defied gravity in recent weeks, clinging to gains despite rising yields and a strengthening dollar.
Technically, gold remains overbought, but a breakdown in support levels could signal a potential trend reversal.
The yellow metal defied gravity in recent weeks, clinging to gains despite rising yields and a strengthening dollar.
Technically, gold remains overbought, but a breakdown in support levels could signal a potential trend reversal.