Gold may be overbought now

Golden event
raychuang

Gold's recent price increases have been notable, but there are indications that it may now be overbought after surpassing important resistance levels.

Although gold and silver typically experience upward movement during geopolitical shocks, this trend may not continue indefinitely. Today, gold prices rose due to lower U.S. Treasury yields, but failed to see further gains as the demand for gold as a safe-haven asset showed signs of weakening. This shift in dynamics follows efforts by global leaders to de-escalate the Israel-Hamas conflict.

Consequently, it is likely that gold prices will decline. Nevertheless, given the volatility of the current world, it is advisable for investors to maintain some level of gold exposure in their portfolios, albeit not a significant portion.

Copyright reserved to the author

Last updated: 10/25/2023 06:02

12 Upvotes
1 Comment
Add
Related questions
About Us User AgreementPrivacy PolicyRisk DisclosurePartner Program AgreementCommunity Guidelines Help Center Feedback
App Store Android

Risk Disclosure

Trading in financial instruments involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Any opinions, chats, messages, news, research, analyses, prices, or other information contained on this Website are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice. Opinions, market data, recommendations or any other content is subject to change at any time without notice. Trading.live shall not be liable for any loss or damage which may arise directly or indirectly from use of or reliance on such information.

© 2024 Tradinglive Limited. All Rights Reserved.