RE:RE:Markets closed....SM - Gold Overbought?
No!
It will be years before gold reaches anything close to being over-bought.
Short pauses by Foreign Central Banks buying gold do occur pending geopolitical outcomes, global financial news along with each countries means to accumulate.
They are the main accumulators of gold currently and they won't be through stockpiling the metal anytime this decade.
Gold is postulated to become the worldwide backing at the level of primary reserve currency status as the global market shifts out and away from the US dollar.
The public at large has yet to catch on to just how extreme the inflation and dollar devaluation problem is going to get and the torrent into buying gold to preserve eroding dollar value is going to be epic.
Gold is far from overbought and has yet to really heat up.