Full Article: Gold Selling Exhausting
By: Adam Hamilton
Gold has been afflicted by relentless selling over the past few weeks or so, forcing it to major lows. While summer-doldrums weakness is typical, gold’s recent drop is on the large side even for this time of year. It was fueled by truly-extreme short selling by gold-futures speculators, which is quickly exhausting. That is paving the way for gold’s major autumn rally to start marching higher any day now, a very-bullish omen.
A month ago when gold was still near $1300, I published my latest research on its summer doldrums. The first halves of market summers including Junes and early Julies have long tended to be the weakest times of the yearseasonally for gold. They are simply devoid of the recurring seasonal demand surges gold enjoys during most of the rest of the year. With investors not interested in buying, gold languishes.
Full Article: Gold Selling Exhausting
By: Adam Hamilton
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