Bank of America Sets New Gold Target as RSI Hits Record High | US Crypto News
Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee and take a deep breath because the markets are flashing signals not seen in decades. Gold is soaring past records, and analysts are split on whether this is the calm before a massive correction or the beginning of a generational bull run
Crypto News of the Day: Gold Mania or Supercycle? Bank of America Lifts Target to $5,000 as RSI Hits Record HighThe gold market is entering uncharted territory, and traders are divided on whether this is peak euphoria or the early stage of a historic supercycle.
Bank of America has lifted its gold target to $5,000 per ounce and silver to $65, citing rising stagflation risks, persistent US fiscal deficits, and deepening geopolitical tensions.
BANK OF AMERICA: “GOLD $5,000, SILVER $65 — STAGFLATION RISK”
BofA raised its precious metals price targets, now forecasting gold at $5,000/oz and silver at $65/oz, citing stagflation as the main concern.
ETF gold purchases surged 880% YoY in September to a record $14B, and…
The move comes as gold’s monthly Relative Strength Index (RSI) surges to 92.2, the most overbought level ever recorded.
GOLD ALERT ⚠️
Monthly RSI just hit 92.2 – the most overbought level in history.
Are we witnessing peak euphoria before a reset, or the start of a full-blown gold supercycle?