Gold Is “Crazy Overbought” — Adam Hamilton on What Comes Next

Recorded on February 11, 2026 Adam Hamilton of Zeal LLC joins Andy Millette to break down why gold’s recent move started flashing the kind of “extreme” signals you only see near historical blow-offs—and why January 1980 still matters as the cleanest analog for what can happen after parabolic price behavior. Adam explains his preferred way to quantify overbought conditions (price vs. long moving averages), why “this time is different” thinking gets traders hurt, and what a realistic reset can look like (high consolidation vs. a sharp drawdown). They also dig into the China-driven demand impulse, how Western capital typically follows…