Gold Weakness: Summer Doldrums

What is behind gold’s summer slide? There was recently a red candle on the weekly chart for the commodity that could be concerning for bullish traders. Everett Millman from Gainesville Coins says that the gold price is experiencing weakness that has not been seen since January 2023. Typically, gold thrives on geopolitical uncertainty. However, now due to summer seasonality, gold is not thriving. Millman also states that historically when the Federal Reserve pauses interest rate hikes, it does not follow up with another hike.