The Most Bullish Month of the Year for Gold

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Gold is at an interesting crossroads. Sentiment couldn’t be much worse and the technical picture is putrid. However, we are entering what has historically been by far the most bullish 5¬†week stretch of the year historically:

 

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The clear bullish bias lasts all the way through Labor Day (September 7th). We will be interested to see where the precious metal sits one month from now; will seasonal tailwinds prevail or are the bear’s teeth sunk too deeply for bulls to resist?