September is the seasonally strongest month for gold each year. A number of factors are likely to give an extra boost to the seasonal this year, including the expectation of a rise in interest rates, the failure of stocks to move higher during the summer months, and particularly bearish trader sentiment.
The SPDR Gold Trust is moving into a position of strength, and is currently at Moving Average Channel weekly resistance. Seasonal strength for gold is greatest in September, but with the proper technical setup, we may find an entry point significantly earlier than that through the MAC Breakout method.
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