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iNVEZZ.com reported that according to UBS AG (NYSE:UBS), gold may not perform as well in September as it has historically.
iNVEZZ.com reported that according to UBS AG (NYSE:UBS), gold may not perform as well in September as it has historically.
Analysts at UBS said:
July, August and September are typically gold’s strongest performing months. But gold dropped 2.74% in July, and while it’s currently up 1.05% in August, its grasp on those price gains looks very tentative […] [B]arring a move to $1200, physical demand from China is likely to remain quite subdued in the months ahead. This means that gold is lacking physical support from its biggest physical market, implying that the seasonality trade for September – gold’s best performing month historically – is unlikely to follow its long-term trend.