Peter Smith
⬤ Gold has exploded higher, hitting fresh all-time peaks near $4,987 per ounce as long-term momentum gauges flash readings that haven't appeared in nearly half a century. The rally has accelerated dramatically after years of steady gains, pushing the monthly Relative Strength Index into territory that historically signals major market stress.
⬤ The current monthly RSI reading above 95 matches crisis-level extremes last recorded in 1973 and 1979—both periods marked by severe inflation shocks and collapsing confidence in currency stability. Those earlier episodes saw gold prices surge violently as traditional monetary systems buckled under pressure. The technical setup today mirrors those historic moments when gold became the ultimate safe haven during economic chaos.
⬤ What makes this surge particularly notable is how gold spent years building momentum before this final acceleration phase. Previous RSI spikes in the 1970s triggered massive volatility once peak momentum was reached. Now, with both price and monthly momentum indicators at levels rarely seen in gold's modern trading history, the metal is revisiting technical conditions that previously signaled deep uncertainty about the global financial system and the future value of paper currencies.
Peter Smith
