Gold Stable in Asian Trading
Gold steadied in Asian trading, after falling by the most in 11 weeks on Wednesday on higher US bond yields and profit-taking near record-high levels. Bullion traded near $2,720 an ounce after retreating from an all-time high on Wednesday to end the session down 1.2%. The pullback came as technical measures suggested a recent rally may have been too strong, with the 14-day relative strength index showing the metal was overbought.
It’s important for investors to pay attention to technical indicators like the relative strength index (RSI) to gauge whether an asset is overbought or oversold. This can help in making more informed decisions when trading gold or other commodities.
