Seasonality Says Gold to Rise From Here
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Posted 09/08/2018
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Right now marks a fairly predictable ‘bottom’ in the annual calendar of gold prices. As the chart below illustrates August tends to be the last visit to the Support line of price patterns for the year. Gold supply tends to be fairly constant so this is no seasonality out of supply but, rather, demand.
From now on (Autumn in the northern hemisphere) the gold price traditionally strengthens on a number of predictably sequential events.
Firstly we have the Asian harvest season after the monsoon rains and many of these Asian farmers place a large portion of their profits into gold. Straight after this we then get the Indian wedding season where gold and gold jewellery is the present and dowry of choice. That then heads into the ‘western’ festive season where jewellery demand then surges too.
![](/root/NewsArchive/Images/2018/8/gold-20seasonality.webp)
Looking at this technically…
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The above is only 11 years worth. The chart below shows 30 years…
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