Gold Oversold, Debasement Trade Persists as Pressure Builds – Sprott’s Paul Wong

Paul Wong of Sprott Inc. says gold is deeply oversold on every key metric and should form a cyclical bottom before September. Prices have fallen well below 90% of the 200-day moving average, with other indicators at minus two to three standard deviations. Seasonal weakness typically ends in early August, after which a rebound could occur once a catalyst appears.