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Gold Trades at Most Oversold Levels on Record

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Not since 1975, at least, has gold traded this far below its 50-day moving average.

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The price of gold is currently trading more than 4.5 standard deviations below its 50-day moving average, which clocks in at the most oversold reading since at least 1975. The chart below shows the daily overbought/oversold reading for gold based on the number of standard deviations it traded above or below its 50-day moving average. As shown, there have not been very many occurrences where the commodity traded more than 3.5 standard deviations below its 50-day moving average. In fact, there have only been ten.



This article was originally published by Bespoke Investment Group.
No positions in stocks mentioned.
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