Gold Surges Above $3,650, Marks New Record

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.