Gold is a defensive asset, and is generally considered to be a safe-haven investment in times of economic uncertainty. Gold also tends to be seen as a hedge against inflation, and in some cases, even a stock market crash.
The overall market has been relatively strong lately; however, it's starting to show some cracks in its foundation.
And it's either going to cause a short-term reversal or potentially an even longer-term reversal in the gold market.
I used my RSI oscillator. The Relative Strength Index (RSI) is a momentum indicator that can measure the magnitude and velocity of recent price changes to determine if the price of a stock is overbought or oversold.
And right now it's telling me we're oversold… |
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