TradingKey – Gold prices keep climbing and setting fresh highs, but the risk of a pullback is rising.
On Tuesday (September 9) during the Asian session, gold (XAUUSD) surged past $3,650 to a new record. At press time, spot gold is trading at $3,652.52 per ounce.
Gold Price Chart, Source: TradingView
Year to date, gold has rallied nearly 40%, far outpacing Bitcoin’s 19% gain, though slightly trailing silver (XAGUSD)’s 43% rise.
Despite the relentless advance, gold is in “overbought” territory, signaling caution for a near-term correction. Technical indicators show gold’s RSI has hit 80 — levels last seen in April — hinting at an imminent pullback.
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