Why Right Now is the Best Time of the Year to Buy Gold

If you follow the day to day price fluctuations of gold, then you know that it usually shifts up or down a few dollars per day based on the latest economic data or geopolitical news. Sometimes it trends up or down for a few days or a week at a time. But when you follow the monthly and annual trends for gold pricing, you can see that late-June into early-July is almost always the “bottom” for gold on the year.
 
Bank of America and Merrill Lynch just released a report this week that confirms what many in the precious metals industry have known for years: now is the best time of the year to buy. This is because gold demand typically rises in the latter half of the year.

from Mining.com


 
It kicks off with the Indian Festival Season that begins at the end of the summer. India is the world’s 2nd largest consumer of gold behind China, so when demand in India goes up, it affects the price globally. Another factor that fuels a rise in gold prices in the last half of the year is that the wedding season in India also begins. Gold is typically given as a gift for weddings and used for ceremonial jewelry during Hindu festivals.
 
The 10-day Ganesha Chaturthi festival occurs between August and September and in early October, Diwali, the Indian Festival of Lights begins.
 
Most of India’s gold is imported and is subject to import taxes. As such, the price is usually higher in India than it is globally. The country has struggled with a huge spike in gold smuggling in recent years as people have attempted to circumvent high import tariffs (which are sometimes as much as 10%). The number of gold seizures at the Mumbai airport last year were the highest they have been in 20 years. And this year, it doesn’t seem to be slowing. Hyderabaad airport has reported that gold confiscations are double what they were in 2014.
 
Last week, more than 50 people on a single flight were busted attempting to bring in more than 2 million dollars worth of gold. And last month, a man was even caught with $25,000 worth of gold in his rectum. Ouch.
 
Thankfully, you don’t have to smuggle your gold. Fortress Gold Group now offers the Home Storage Gold IRA so that you can have your metals shipped directly to your home or other location of your choosing. The Home Storage Gold IRA is the only way to protect yourself against a stock market collapse, bank closure, EMP, cyberattack, dollar devaluation, or government confiscation. It is perfect for investors who want complete control and total protection. The Home Storage Gold IRA lets you hold your gold in your own hands and it’s the only way to have 24hr access to your wealth.

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