In The Lead – A New (G)old Standard? It's…Academic |
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Gold prices fell by the most in a year-and-a-half on Tuesday as the quest for safe-haven turned into a quest for securing profits and being the first one out from an apparently extremely overbought market. RSI metrics had been above the 70-mark for more than two weeks while gold vaulted 14% during the very month that is normally price-unfriendly. However, yesterday, the yellow metal at one point came within just $5 of recording a full $100 drop from the most recent high water mark it achieved just hours prior to yesterday's rout (1,917 versus 1,822). |
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