Gold Hits Most Overbought Level Since 2008
Gold has surged to its most overbought level on the monthly Relative Strength Index (RSI) since February 2008, according to Barchart.
With prices currently hovering above $3,300 per ounce, the metal’s momentum has pushed deep into technically overheated territory.
Historically, such elevated RSI levels have preceded cooling-off periods or corrections.
The last time gold was this overbought on the monthly chart was just before the 2008 financial crisis — a critical inflection point for markets.
While gold’s strength has been fueled by inflation hedging, global uncertainty, and central bank buying, traders may begin watching closely for signs of reversal or consolidation.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
