Gold "is overbought at the moment, but it is still underinvested," according to Michael Widmer, head of metal research at Bank of America. "ETF inflows last month were up 880% year-over-year and that is ultimately a concern," Widmer tells Bloomberg Television. "From a pure fundamental macro backdrop we're still looking good," he adds. "The entry points are coming." -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos