Investors see record-setting gold prices as the most overvalued in nearly 4 years amid dimming recession fears, BofA says

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• Gold is the most overvalued it's been since August 2020, according to fund managers surveyed by Bank of America.
• Gold has climbed near records on macro uncertainty, but respondents are actually the most bullish in two years.
• 78% see recession as unlikely, while "no landing" expectations have surged to 38%.

Gold's shining a bit too bright these days, at least according to the most bullish group of investors seen in two years.