Renewed gold rally starting in August?

Gold Investment - 15 July 2010

The gold price has been softer since the all-time high of $1266 per ounce earlier this year in June. This weakness is expected to continue over the short term, but we’re expecting a renewed and solid gold rally starting in August this year.

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The gold price has already rallied over 300% in the past decade. Why do you expect another rally and why do you expect it to start in August?

True, the gold price has rallied over 300% in the last decade. In fact, it has increased with no less than 30% in the last 12 months. This is however not the end of increases we’re going to see in the price of gold. To be honest, the real rally in the price of gold has not even started yet. This is why we believe it to be the case:

• Indian Wedding Season  – It has been proven beyond reasonable doubt that the Indian wedding season increases demand for gold. The Indian wedding season runs from late September to December and from late March to early May. It’s therefore no wonder that there’s usually an increase in the price of gold shortly before and during the Indian wedding season, especially in the month of September. One must also not forget the positive effect the Hindu festival of Diwali (Festival of Lights) has on the demand for gold. Indian is after all the biggest buyer and consumer of gold in the world. 

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