Gold Drops 30% as Midterm-Year Seasonality Hits Bulls Hard
Comparing 2026 against 2022 and 2018 puts the drawdown right at the average for prior midterm years, and the window for a low lines up between July and October.
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Comparing 2026 against 2022 and 2018 puts the drawdown right at the average for prior midterm years, and the window for a low lines up between July and October.
Seasonality data going back to the 1960s puts the average midterm-year bottom in early July, and the bull-market support band near $3,800 has not been tagged since 2023.
The metals that traded like AI-infrastructure proxies for the first half of the year have now given back every basis point of YTD gains, with gold off 25% from its $5,600 peak and silver cut nearly…
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