BUZZ-Gold's brilliance may blind traders to increasingly risky situation

* Gold has risen around $940 in the past year * It is on course to reach nearby targets above $3000/oz * Gold is significantly overbought add traders continue to buy high * The risks of a correction are rising alongside gold * There may be a swift reversal if bets ever become overcrowded * There is room for bets to grow before they may be deemed too large * An extension toward $3095 is possible before rise too extended * Next major target for gold nearby at $2782, next above that is $2920 * Risk aversion could stoke demand in the short-term urn:newsml:reuters.com:*:nL1N3LZ0B3 * <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Gold https://tmsnrt.rs/48fHVWz ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Jeremy Boulton is a Reuters market analyst. The views expressed are his own) (([email protected]))