One of the bizarre things is financial markets is that seasonals work. They shouldn’t, but they do.
That said, I have to add a healthy dose of skepticism to statistics showing October is the worst month for gold returns.
Gold has gained in 4 of the past 5 Octobers. The lone loser was October 2008, when the world was imploding.
What is noticeable, looking at the monthly chart, is how rare it is to have 5 consecutive months of gold gains, even in an incredible bull market.
