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News Bites 'Buoyant' Gold Market On Its Way

[GoSilverGo]

 

Sarah Benali  Thursday August 24, 2017 16:15

 

Kitco News

(Kitco News) - Despite the metals current fall, gold historically moves higher in August and September, points out one gold fund manager.

“Typically during the beginning of the year, we see good performance in gold. As we get into the spring months, gold will sell off and in late spring, we typically see the bottom in the year’s price on gold,” said Doug Groh, co-portfolio manager of Tocqueville’s Gold Fund, on Bloomberg Thursday.

“As we get into August and September, we see a relatively more buoyant gold market as people are hedging themselves,” he added.

Gold prices are still up on the year despite recent weakness ahead of the Jackson Hole central bankers meeting this weekend. December Comex gold futures have come off recent highs, last trading down nearly 0.3% at $1,291.10 an ounce.