The RSI and stochastics indicate the gold is very oversold. The few times this happened the price spiked up. Look also at the 5 year pattern. Gold is clearly making higher lows. Look also at the 10 year pattern and you will see this is a cup-and-handle formation. Gold did this same pattern in the 1980s. The SLR requirements and Reverse Repo rates are causing of shortage of collateral. Basel III NSFR going into effect for European banks at the end of the week and UK banks Jan 1, 2022, make gold a risk-free asset.