Gold Enters Historically Strong July-August Season
Gold prices have averaged a +1.5% gain in July over the last 20 years, making it the second-strongest month. August has averaged +1.6% since 2005, with a 55% win rate.
Gold is entering a historically favorable seasonal period, according to data from The Kobeissi Letter.
Over the past 20 years, July has been the second-strongest month for gold, with an average gain of +1.5% and positive returns in 65% of Julys. The strongest July on record was 2020, when gold returned +10.7%.
August has been the top month since 2005, averaging a +1.6% gain with a 55% win rate. Its strongest performance was in 2011, with a +12.1% return.
By contrast, June has historically been the weakest month, averaging a -0.4% decline with only 40% positive readings.
Seasonality is now turning in favor of gold bulls.
Source: The Kobeissi Letter