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Mark Hulbert: The calendar says this is the wrong time to buy gold

CHAPEL HILL, N.C. — Sell in March and go away?

No, I’m not referring to the stock market and the famous seasonal pattern known as “sell in May and go away.” I’m referring instead to gold GCM8, -0.16% which appears to have a different six-months on/six-months off seasonal pattern all its own.

Since 1973, when gold began freely trading, bullion has produced an annualized return of 15.1% from September through February, versus 3.2% from March through August, as this chart shows. We are right in the middle of this seasonally unfavorable six-month period; since the beginning of March, gold bullion has fallen 0.4%.

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