by Craig Hemke, Sprott Money:
For the past two weeks, we’ve tried to prepare you for a rally in the COMEX gold price. Seasonal trends, along with economic reality, should combine for a breakout move in August and September. For now, though, we’re still in July and the usual COMEX pattern of “wash and rinse” is underway.
If you missed last week’s post, I urge you to read it now. We tried to detail the reasons for expecting a late summer rally, and I think we made a compelling case.