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Gold -22% YTD – Sentiment As Poor As October 2008 Prior To 2009, 2010 Surge

by Mark O’Byrne, Gold Core:

Seasonally, autumn and winter is the strong period for the precious metals due to robust physical demand internationally. This is especially the case in Asia, due to wedding and festival demand and into year end as the Chinese stock up on gold prior to Chinese New Year which this year takes place on January 31st, 2014.

September and November are two of gold’s strongest months in the last 38 years (since 1975) and given the bullish fundamentals, any further weakness is likely to be short term. Interestingly, October is one of gold’s weakest months and weakness in October is often followed by gains in November, December and January making early November a good time to buy gold.

Gold is down 22% year to date and looks set for the first annual decline since 2000. The last time that gold suffered such a poor year to date performance was in 2008. At the start of November 2008, gold was trading down 14.6% for the year.

Read More @ GoldCore.com

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