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Gold Seasonality Projects Higher Gold Prices
By, Simon Maierhofer
Thursday August 20, 2015
Gold was the most hated asset class just a few weeks ago. It has soared 7% since. Gold seasonality projected a buy signal on August 6, and continues to be bullish on gold right until …

As far as indicators go, gold seasonality has been on fire.

Gold seasonality projected a top in late January. The January 25 Profit Radar Report warned that: “Gold seasonality is starting to turn sour.”

From January 22 – July 24, gold prices tumbled 17.8%.

The July 19 Profit Radar Report pointed out that: “Seasonality will turn strongly bullish in early August.”

Gold and gold ETFs already soared 6.9% since the August 6 seasonal gold low.

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The gold seasonality chart projects further gold gains until early October. This, by the way, does not mean that there won't be any pullbacks.

Meticulously hand-crafted seasonality charts for all major asset classes are available to subscribers of the Profit Radar Report.

Gold seasonality is only one indicator, but it wasn’t the only indicator suggesting a gold rally. The July 21 article “Gold Looks so Bad, it Might Actually be Good” highlights 3 bullish gold development.

Technical analysis also suggested that a tradable bottom was formed on July 24.

The July 26 Profit Radar Report published the chart below (including the yellow projection) and stated the following: “The daily bar chart shows a bullish reversal candle at Friday’s low. Friday’s intraday reversal satisfies the basic requirements for a tradeable low. As long as Friday’s low (1,075.60) holds, odds favor higher prices with a target above 1,300. We will buy a small amount of gold on a move above 1,100. The equivalent level for SPDR Gold Trust (NYSEArca: GLD is around 105.50.”

Simon Maierhofer is the publisher of the Profit Radar ReportThe Profit Radar Report presents complex market analysis (S&P 500, Dow Jones, gold, silver, euro and bonds) in an easy format. Technical analysis, sentiment indicators, seasonal patterns and common sense are all wrapped up into two or more easy-to-read weekly updates. All Profit Radar Report recommendations resulted in a 59.51% net gain in 2013 and 17.59% in 2014.

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