Gold prices are notoriously volatile, and the price has been in a short term upward trend since Oct last year when the price was about $560, current price is around $686 with resistance at about the $720 mark, so there is definitely room to rise still further, if the $720 resistance is broken then i think the sky’s the limit for the price..

A good way to gage the price is through seasonal charts, these charts show what month’s tend to do better than other months.

The Link below show what Gold has done on a seasonal basis from the years 1974-1999

Looking at the chart you can see a general down trend in the price of gold from April to September,

The price trend from the end of September through to January is very much up

Feb to April is mixed

Some commodity brokers and jewelery wholesalers rely on this yearly pattern to buy and sell there gold.

Obviously it can be different, but the average year follows the above trends.

Hope this is of some help

Source(s):

http://spectrumcommodities.com/education…
seasonal gold chart

http://www.kitco.com
gold prices and charts

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