That headline is a snippet from a Deutsche Bank report.
- "Gold has been lower in 10 of the last 11 Septembers"
Analysts at the bank also note that:
- The S&P 500 has been lower for the last four Septembers
- By the end of the month, we’ll also be just 5 weeks away from the US election and close election races (as this still is) usually promote sideways to lower equity markets in the build-up, before a big rally whoever wins after the event. This ties into the seasonals, as we’ve only seen 6 negative Novembers for the S&P 500 since 1995 with 11 of the last 12 higher.
Given price action on Tuesday we are off to an 'as expected' start!
