Post by
Goldbug52 on Oct 22, 2020 1:32pm
I don't subscribe to TA,
But take a look at a 5 yr gold chart. In each of those years gold moves from a short term low to a significantly higher price for a period of a few months. Might have something to do with Diwali, an Indian holiday celebrated traditionally with gold gifting. I believe it also has something to do with the upcoming Chinese New Year which seems to boost gold demand. These are not my exclusive ideas but have read about these catalysts elsewhere.
Comment by
oldfx1 on Oct 22, 2020 1:38pm
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Comment by
Goldbug52 on Oct 22, 2020 1:52pm
Sorry, l omitted an important point, the low point seems to occur around November and rise to as far as April of the following year.
Comment by
Lemboy on Oct 22, 2020 2:18pm
Gold appears to have strong seasonality from middle of Dec to end of Feb. https://charts.equityclock.com/gold-futures-gc-seasonal-chart
Comment by
Consvestor on Oct 22, 2020 2:51pm
Gold definitely has a strong correlation to seasonality. From my experience, one needs to get out by the 2nd or 3rd week of February. March is usually abysmal for gold.