Back in January we published an article showing how the gold price was following the same path here in 2017 that it did last year following rate hikes made by the central bank during each of the past two Decembers.
And as we enter into February, that trend appears to be continuing like clockwork with the gold price having risen 3% and 5% respectively in each of the past two Januaries.
The one difference however between January of 2016 and the same month in 2017 is that the price started off the month $80 higher this year, and ended $100 greater than what it closed out at on January 31 of last year.
As we begin the month of February, expectations of this trend continuing are just as prevalent as they were last year when the price made even greater moves than they did in January. In fact, at the end of the second month of 2016 gold had climbed another $110, or 9% on top of the 3% rise the month before, and set the stage for gold climbing to its highest level since 2011.
Projecting this same percentage gain for February of 2016 forward into 2017, at the end of this month we could expect to see a gold price of around $1326, or a gain of $109 above what it started out the month.