Gold Just Hit Its Most Oversold Level Since 2023 — And It’s Sitting On A Key Technical Lifeline

Gold’s latest pullback may look like just another leg lower — but under the surface, the technical setup is starting to flash something far more interesting.

Source: TradingView

Momentum has now cracked to its weakest level in over a year, with the RSI (relative strength index) slipping into oversold territory for the first time since 2023.

That kind of reset doesn’t happen often — and when it does, it tends to ripple across instruments like SPDR Gold Shares (NYSE:GLD) and gold miner funds such as VanEck Gold Miners ETF (NYSE:GDX).