On 20th October 2025 when December gold reached its all-time high of US$ 4,398 per ounce, many investors and technical analysts thought that the metal had become overbought, having risen from US$ 3,475.50 per ounce on 29th August 2025. A gain of 26.5% in less than 2 months. This indeed had been a stellar performance, and one from which a technical correction could be expected.