Golden bubble inflates

Tuesday 11 February 2025

The Market Ear on ludicrously overbought gold.

Gold – on the road to 3k

Unstoppable gold continues surging today again. As we have been pointing out recently: gold is overbought, but there is room for it to move even higher before we reach the upper part of the channel (comes in around $3k).

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.