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:
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?