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A Golden Week for Gold

October 1, 2024

It’s that time of year again when Chinese markets close for a week in observance of their “Golden Week” holiday. The typical trading pattern for gold during this holiday week is down early and up late. Will we see things play out this way again in 2024? The week certainly seems to be starting out that way.

Impact of Golden Week on Gold Prices

First of all, what’s Golden Week? In China, it’s a celebration of the communist revolution and the country’s founding in 1949. All Chinese markets close for this holiday, including the futures exchanges in Shanghai.

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