(Bloomberg) — Gold investors returning from their summer holidays will be eager to see whether the precious metal can sustain its record-breaking rally, or if it will succumb to the curse of September.
Bullion has dropped every September since 2017. Over that period, the average decline has been 3.2% in September – easily the worst month of the year, and far below the monthly average gain of 1%.
It’s a phenomenon that’s perplexed economists who believe markets should behave more efficiently, and it isn’t limited to gold: September is also commonly the worst month for US stocks, with average declines of more than 1.5% in the S&P 500 over the past decade.
For the rest of this article: https://www.bnnbloomberg.ca/investing/2024/08/31/will-golds-tailwinds-be-enough-to-overcome-september-curse/