On Thursday EST, Bank of America's technical strategists warned that there may still be plenty of room for gold to recover since this year, and that the trend may be similar to the destructive bear market that occurred after the sharp rise in gold prices in 1980 and 2011. They proposed a phased buying strategy, recommending that the full allocation be completed only when the price of gold falls to the $3,450 to $3,450 range. Bank of America analysts pointed out in a technical research report that the current price of gold has gathered a series of bearish signals, and the risk of continuing to decline is increasing: a death cross pattern, high net long positions, an alarming top candlestick, TD sequence exhaustion signals, and the RSI indicator reaching 90 at recent highs — this level is consistent with the top of gold prices in 1980 and 2011.

On Thursday EST, Bank of America's technical strategists warned that there may still be plenty of room for gold to recover since this year, and that the trend may be similar to the destructive bear market that occurred after the sharp rise in gold prices in 1980 and 2011. They proposed a phased buying strategy, recommending that the full allocation be completed only when the price of gold falls to the $3,450 to $3,450 range. Bank of America analysts pointed out in a technical research report that the current price of gold has gathered a series of bearish signals, and the risk of continuing to decline is increasing: a death cross pattern, high net long positions, an alarming top candlestick, TD sequence exhaustion signals, and the RSI indicator reaching 90 at recent highs — this level is consistent with the top of gold prices in 1980 and 2011.