Gold prices have pushed to within striking distance of $1,800 an ounce, but the rally comes during the market's seasonally slow period and according to one market analyst, it could be an uphill battle for further gains.
In an interview with Kitco News, Mickey Fulp, creator of the Mercenary Geologist Newsletter, said that traditionally, gold prices have a strong start to the year, prices are flat through spring and usually hit a low in late summer, early fall.
"We expect during the period from June to the end of October for gold to be flat or lose value, till about mid-August," he said. "Usually, the seasonal low for gold during the year is sometime between the 1st of July to mid-August."
Michael S. "Mickey" Fulp is a Certified Professional Geologist with over 29 years experience as an exploration geologist searching for economic deposits of base and precious metals, industrial minerals, coal, uranium, and water in North and South America and China. Mickey has worked for junior explorers, major mining companies, private companies, and investors as a consulting economic geologist for the past 20 years, specializing in geological mapping and property evaluation. Mickey is respected throughout the mining and exploration community due to his ongoing work as an analyst for public and private companies, investment funds, newsletter and website writers, private investors, and investment brokers.