Saturday, October 10, 2009

Gold defies the odds or will it tumble?

Although September looks like the best month for gold October has seen gold price move up very nicely. However, I would like to share a qoute from seeking Alpha:

"From a seasonal perspective, September has always been Gold’s best month of the year. Combine this with Gold’s seasonal tendency to continue moving higher into the year-end and you have the ingredients for a quick 20% move to the upside.
Why only 1200? Well, for one, stocks will continue giving Gold competition between now and year-end. Look for continued momentum to flow into equities as money managers chase equities higher in hopes of meeting their benchmark for the year. This in turn will slow Gold’s ascent, but only for so long". Read more seeking Alpha

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