- Gold Trading | December 1, 2016
The rally in gold and silver has corrected hard which is not all that unusual for any bull market. The price of gold is approximately $200/oz lower than its June peak of $1375/oz. RSI is down to 20.63 which is the lowest it has been for some time. A reading below the ‘30’ level is considered to be oversold, so we can see that gold is extremely oversold and a bounce from here is not impossible.