Wednesday, July 21, 2010

Jeff Clark's Riff On Buying The Dips

Jeff Clark says the summer is the best time to buy gold and gold stocks, and supplies a fair bit of seasonal analysis in several charts embedded in his article. The tendency applies to gold stocks, which show definite weakness in June and July.

Based upon his study of average pullbacks, he arrives at a buying price of $1,126.98. Interestingly, the recent price of gold - and gold after late-spring and summer routs - has been considerably above that level, corresponding to an average 8.9% decline. This year, the metal has already dropped below the indicated price of the smallest drop, $1,209.99, so this year won't be setting any records. So far, though, it's clocked in at below average decline-wise...and we're already coming up to late July.


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