Well it’s going to bump around even if it’s going to the moon. Note RSI(14). And before anybody chimes in and tells me that indicators are useless: while in and of themselves that may be true BUT the likes of Bloomberg and CNBC broadcast this stuff and it therefore has the tendency to become a self fulfilling prophecy.
In this case, however, Gold is a commodity and RSI was specifically designed around commodity trading. Works pretty well if you actually know how to use it correctly.
Guess my point is that the way Tom is doing it is the only way i.e. wait for pullbacks against the major trend. Simply buying because you don’t want to miss out will get you in hot water that’s for sure. And if that’s the way you’re going to do things then you’d better have a lot of capital and resolve.