Gold: 20-day return +13.64% (99th pct)

On 2026-08-21, Gold closed at 4622.5 USD/oz, up 2.35% on the day. It trades at 57.7% of its 52-week range. Its RSI(14) of 73.69 is in the 95th percentile of its history since 2000, and its 20-day return of +13.64% in the 99th percentile. RSI above 70 is conventionally termed overbought. It is trading above its 20-, 50- and 200-day moving averages. Its 20/50/200-day moving averages are 4278.1 / 4177.94 / 4483.86 USD/oz, with price +8.05% / +10.64% / +3.09% against them. Its 52-week range is 3310.1–5586.2 USD/oz; it closed 17.25% below the high and 39.65% above the low. Its 20-day volatility is 1.377% daily, in the 80th percentile of its history since 2000. Its 14-day average true range (ATR) is 83.23 USD/oz, 1.80% of price. It has returned +5.53% over 5 days and +3.93% over 60 days.

=== GOLD  (USD/oz) ===
  price & change   (as of 2026-08-21, prior 2026-08-20)
    close       4622.50
    change      +106.20  (+2.351%)
  range            (as of 2026-08-21)
    range       59.50
    close pos   95.8% of range
  moving averages  (as of 2026-08-21)
     20d MA     4278.10   price above by +8.05%
     50d MA     4177.94   price above by +10.64%
    200d MA     4483.86   price above by +3.09%
    price > all MAs
    stack: 200d > 20d > 50d
  volatility       (as of 2026-08-21)
    20d stdev   1.377% daily ≈ 21.9% annualized (×√252)   (80th pct of own history, since 2000 (5685 obs))
    vs easing-2024 avg  0.97× (1.377% vs 1.415% era avg)
  ATR              (as of 2026-08-21)
    ATR(14)    83.23
    ATR%        1.80%   (86th pct of own history, since 2000 (5691 obs))
    range/ATR   71.5%
  52-week range    (as of 2026-08-21)
    high        5586.20   (-17.25% from high)
    low         3310.10   (+39.65% from low)
  momentum         (as of 2026-08-21)
    RSI(14)     73.69   (95th pct of own history, since 2000 (5691 obs))
  returns          (as of 2026-08-21)
     5d return  +5.53%
    20d return  +13.64%
    60d return  +3.93%
  volatility by rate-era
    pre-crisis       1.39%   (from 2000-08-31)
    ZIRP-2009        1.18%
    tightening-2015  0.84%
    ZIRP-2019        1.08%
    tightening-2022  0.94%
    easing-2024      1.41%
  real-yield sensitivity (gold weekly returns vs weekly Δ in 10Y TIPS real yield, DFII10)  (as of 2026-08-20)
    vs real yield (Δ) -0.59 (26w)
    vs real yield (Δ) -0.50 (52w)
  cross-asset sensitivity (gold weekly returns vs the US dollar index (DXY) and S&P 500)  (as of 2026-08-21)
    vs DXY      -0.29 (26w)
    vs DXY      -0.31 (52w)
    vs S&P 500  +0.58 (26w)
    vs S&P 500  +0.38 (52w)