Is Gold Oversold?

Photograph by Yuriko Nakao/Bloomberg

Pessimism on gold is so extreme that sometimes even the bears worry it might be overdone. Today the price jumped a little more than 1 percent after news hit the wires that was perceived to be bullish: Moody’s Investors Service reported that U.S. policymakers must do something about the government debt to avoid a rating downgrade this year.

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