Don’t Chase Gold as Seasonal Pattern Points to Lower Prices – Mickey Fulp

from Kitco NEWS

Gold prices have pushed to within striking distance of $1,800 an ounce, but the rally comes during the market’s seasonally slow period and according to one market analyst, it could be an uphill battle for further gains.

In an interview with Kitco News, Mickey Fulp, creator of the Mercenary Geologist Newsletter, said that traditionally, gold prices have a strong start to the year, prices are flat through spring and usually hit a low in late summer, early fall.

“We expect during the period from June to the end of October for gold to be flat or lose value, till about mid-August,” he said. “Usually, the seasonal low for gold during the year is sometime between the 1st of July to mid-August.”
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