We have officially passed the halfway point in September. And I don’t say that to stress you out that the holidays are fast approaching, although I have seen Halloween and Christmas stuff in some of the stores. I say this because you have heard from me, and from others much smarter than I, that historically September is the best performing month in term of the price of gold. Time for a temperature check on that statistic. On August 31, 2010, gold closed at $1,246 per ounce. In trading today, gold reached a high of $1,278.30, an increase of $32.30 per ounce or 2.6%. In a typical year, the price of gold in September rises 2.5% above its August price. Well, halfway through the month gold has performed as expected. But we think this year it will outperform its historical results. Stay tuned.
BabyBulls Mid-September Gold Check
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I agree. Facts speak for themselves. Going much higher as well as all the precious metals.
Thanks Mark for your market insight. We would welcome the opportunity to have you speak at our annual conference.
[...] or 4.94%, nearly twice the historical September increase of 2.5%. In our mid-September post, http://babybulltwits.wordpress.com/2010/09/16/mid-september-gold-check/, we predicted that gold would outperform its historical results. So, what do we see for the [...]