Historically the gold price is the highest in September, the past few weeks gold has taken a bit of a beating, imo it makes buying while prices of companys are low more attractive.
Another Catalyst - Weak US Dollar?
Could there be an additional economic reason for gold to stage a rally this autumn? We believe there is a strong possibility of something negative brewing in the currency markets for the US dollar -- and typically a weak dollar causes investors to flock to precious metals
Takeaway On Gold Prices
Gold is consolidating just below a key technical breakout point during this, the end of the weakest time of the year for the precious metals. Strong seasonal demand is expected out of India next month. The US dollar is vulnerable to a breakdown should a failure at the recent trendline occur. Those without sufficient exposure to the precious metals complex at this juncture should consider any remaining late-summer weakness as an opportunity to finalize their medium-term positions.
PGO Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
