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