Are the summer doldrums a thing of the past?
Gold first broke above $2400/Oz on 17 May 2024. Staying above that threshold was not evident. It lasted for three trading days.
The gold price did slide back, but the correction was rather shallow. On 7 and 26 June the NYMEX close dipped just below $2300/Oz. Was the summer doldrum scenario again in the making?
Apparently not: in the first half of July gold went back to the race. The highest NYMEX close at $2468 set a fresh all time high. Gold now stayed above the $2400 threshold for 7 consecutive trading days. The following ‘correction’ was not really worth mentioning: On 25 July we have seen a close above $2364. Since yesterday 30 July gold quotes again above $2400, now closing the month above this threshold.
How about the white precious metals?
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Gold (blue graph on the left axis) and Silver (red graph on the right axis) |
Platinum and Palladium
Weekly graph
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Weekly observations of Platinum and Palladium over the four months. |
Daily graph of Pt and Pd until today:
Source: https://gwyde.blogspot.com/2024/07/are-summer-doldrums-thing-of-past.html
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