The Seasonality of Gold
Published in on August 13, 2012
What Frank Holmes calls, "The love trade."
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[/caption]- Nearly 50% of gold demand is driven by jewelry buying.
- Gold price movements coincide with major holidays around the world.
- With Ramadan coming to an end this August 18th, the next major gold buying holiday for India is on November 13, 2012, called "Diwali", commonly known as, "The Festival of Lights".
- China's Dragon Lunar New Year 2012 set gold buying records, with the next Lunar New Year scheduled for Sunday, February 10, 2013.
- Asians are increasingly acquiring gold in jewelry form as both a savings and investment tool, whereas westerners view gold jewelry as a non-monetary item.
Stats via Bloomberg Finance.
Source: BRI August, 2012 Presentation, P 32
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