Is this gold’s time to shine?

August is a very strong month for gold from a seasonal perspective. Now, the physical demand for gold is unlikely to match previous years due to COVID-19 related restrictions, but Jerome Powell’s dovish hold from last week’s FOMC meeting could allow gold to race higher on a weaker USD. Over the last 10 years, gold has risen a total of 6 times in 10 years between August 01 and September 01 with an average return of +3.43%. The largest gain was in 2011 with a 12.79% gain.