Gold analysis: Metal poised for oversold bounce
Channel: City Index
Date: 2023-10-05

For the first time in many weeks, gold is starting to look relatively attractive again. If you loved gold at $2K+, it is now on sale near $1.8K. But will it find buyers is the key question. The sharp $130 (6.7%) drop in the space of a couple of weeks (from its 21st September high) means gold prices are technically oversold and potentially due a short covering rally from these long-term support levels.