Gold Price Forecast: XAU/USD consolidation could be imminent in the short term – Standard Chartered

Further upside in Gold? Economists at Standard Chartered believe that the yellow metal is likely to stabilize in the near term.

Overbought technicals and narrowing investor diversity

“We believe a consolidation could be imminent in the short term. We continue to see real yields as a headwind given the risk of a nominal rebound in US government bonds yields.”

“From a technical standpoint, a stretched RSI (reflecting overbought conditions) and narrowing investor diversity also point to a consolidation.”

See – Gold Price Forecast: XAU/USD continues to face correction risks – TDS