Another day and another record for Gold

Yesterday afternoon Gold did fall sharply into the 3pm London fix. That obviously suggests a selling order set for that event. Well, it did not stay down there for long after sliding to $3,099.95. The metal later recovered and closed in the US at $3,123.57- of course a new record daily and monthly close. The price action today has seen it rise again from a low at $3,120.15. The metal has surged to set a new record high not long ago, at $3,149.00. Meantime, the metal is now approaching technically overbought territory, but that is not yet critical. The 14 day RSI is right now around 77. Readings above 80 would suggest it is overcooked. So, with the Trump tariff dat now just one day away it is hard to see it correcting that yet, but at some stage it probably will. Gold is currently trading at $3,134.25