A technical momentum indicator that compares the magnitude of recent gains to recent losses in an attempt to determine overbought and oversold conditions of an asset.
Source: Relative Strength Index (RSI)
Here is a study by trader Dan Norcini at jsmineset.
The ongoing consolidation in Gold is testing the patience of long term gold bulls. At this stage its important to remember that the months of June- September are stressful for bullion bulls.
Silver too has been weak, and is currently trading just under $ 13.
Its time to be patient, and just hang on in there!!
Source: Trader Dan Comments On Today’s Gold Market