Seasonality in Gold and the Financial Markets

Today, geopolitical risks, macroeconomic factors, and interest rate expectations are influencing the precious metal. In terms of seasonality, January has historically been the best month year after year and remains so today. This is due to traditions in Asia, such as the wedding season or the New Year’s celebrations, as well as how monsoon weather patterns develop, leading to more or fewer gold purchases. Meanwhile, trillions have flowed into the financial markets, and liquidity and central bank decisions are increasingly overshadowing seasonal patterns. Today, gold is viewed more as a global financial asset.

However, demand from India and China remains a key factor in determining the price of gold. Chinese demand is not limited to central banks; the general public is also buying gold in large quantities.

There are many sayings in the financial markets, such as “sell in May and go away, but remember to come back in September.” But even here, seasonality is no longer as dominant as it used to be. So, timing the best possible moment for gold investments is unlikely to be easy. Currently, the price of the precious metal is about 26 percent below its all-time high from the beginning of the year. Massive government debt, central bank demand for gold, and high geopolitical risks should drive the price of gold back up.

U.S. GoldMining – https://www.commodity-tv.com/ondemand/companies/profil/us-goldmining-inc/ – focuses on gold and copper. The company owns the promising Whistler Project (100 percent) in Alaska, which hosts large gold and copper resources. Drilling has demonstrated the potential for new gold-copper porphyry deposits there, and the preliminary economic assessment for the Whistler Project has been very positive. The 2026 drilling program has begun, and the exploration program is actually ahead of schedule.

Fortuna Mining – https://www.commodity-tv.com/ondemand/companies/profil/fortuna-mining-inc/ – is a successful gold and silver producer with mines in West Africa and Latin America. In the first quarter of 2026, $20 million was returned to shareholders through share buybacks. This led to new quarterly record results for profit and cash flow. The company is advancing the Diamba Sud gold project in Senegal; the environmental and social impact assessment has been approved, and the positive results of the feasibility study have just been published.

Current company information and press releases from Fortuna Mining (- https://www.resource-capital.ch/de/unternehmen/fortuna-mining-corp/ -) and U.S. GoldMining (- https://www.resource-capital.ch/de/unternehmen/us-goldmining-inc/ -).

For more information, please see our new Precious Metals Report at the following link:

https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2026-03/.

Sources: Fortuna Mining, U.S. GoldMining,

https://www.seasonalcharts.de/classics_gold.html;

https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2026-03/.

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