Historically speaking, September has been the best month for gold investors, according to our friends at ETF Securities.
“Notably due to buying in advance of the Diwali festival in India, since 1990 the gold price on average has gained about 3% in the month of September (+2.5% if measured since 1972),” they write in a recent report.
MetalMiner’s daily precious metals price index saw increases for gold in four global markets today.
Japanese gold bullion prices rose 1.7 percent. US gold bullion prices inched up 1.6 percent. Indian gold bullion finished the day up 1.5 percent. The price of Chinese gold bullion finished the market day up 1.4 percent per gram.
Chinese silver saw the biggest upwards shift for the day on the index, rising 5.1 percent on Monday, August 26. Indian silver rose 4.7 percent. US silver finished the market day up 3.8 percent. The price of Japanese silver rose by 3.4 percent after a three-day flat streak.
Japanese platinum bar prices inched up 2.4 percent. Chinese platinum bar prices rose 0.3 percent. US platinum bar saw its price rise 0.1 percent.
After a 2.2 percent increase, the price of Japanese palladium bar finished the day up. US palladium bar fell 0.4 percent on Monday. The price of Chinese palladium bar remained steady.
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Why September Is Best Month For Gold Prices
Published 08/27/2013, 12:53 PM
Updated 07/09/2023, 06:31 AM
Why September Is Best Month For Gold Prices
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