The long term Gold Slow Season [GSS] on average is mid-June thru mid-August and brings the year low for gold.
But since the bull phase since 2001 low at $2.60, we see less price damage during those 3 GSS months.
GSS in 2001 [$260], 2002, 2003, 2004 and 2005 saw 1st half of July gold lows, with usually tests of lows in August.
GSS in 2006, 2007, and 2009 [so far] saw last half June gold lows with higher lows in mid-August.
***GSS in 2008 saw gold straight down from March [$1030] to Octobert, with a rally in July. This was obviously a longer term cycle asserting and overpowering the GSS tendancy to make the yearly low by mid-July.
Surprisingly July rallies the most during the 3 month GSS period, so we could get a pop into at least mid July.
It took me awhile to did this stuff out, but it should indicatee that the 3rd week June 2009 lows have a good chance of holding, even if July and August are lackluster, and since an 8.6 year Armstrong private confidence cycle is slowly turning up, the move to gold should accellerate.
With no $US markets to monitor today, I will focus on Cando markets, and even peek at ECU later this morning. London 2nd session gold closes about now, but a cash access market may begin at 1:30 EDT and trade until 5:15 EDT...not sure yet.....pic
