Analyst: Gold has entered the overbought zone and there may be a cooling off period at the beginning of this week
2024-04-07 22:27:07
On April 8, Richard Snow, an institutional analyst, said that although the yield of US treasury bond bonds continued to rise last week, the gold price has been strengthening. Due to its safe haven nature, the recent escalation of the Middle East situation has increased the attractiveness of gold. But the market has returned to a large-scale overbought area, which means there may be a cooling off period early this week without further escalation of the situation. Spot gold fell over $20 at the beginning of Monday trading.
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