from Secular Investor:
It was another volatile week in the markets. The interest rate decision by the U.S. Fed on Wednesday was a non-event with no change in the Fed’s monetary policy. The market reacted with a spike in stocks, bonds, and precious metals, while the U.S. dollar took a dive. Also, the unfolding drama in Greece spooked markets and metals; stock markets are nervous while metals mostly get bids each time the Greek crisis flares up.
We focus on gold’s seasonality in this column and what it could mean for gold’s secular trend.
Between 1982 and 2012, gold typically started rising in early July, corrected slightly in October, and finished the year strongly higher. The first chart, courtesy of our friend, author, and market analyst Dimitri Speck, shows that the second week of June typically kicked off the yearly rise with a final dip.
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