Keep in mind that this is an 'average' and that exogenous events can greatly affect the normalized results.
Chart courtesy of friend Brian at ContraryInvestor.
Gold Seasonality with Gold 2010 Daily Price Chart Overlay
"If at the start this cancerous growth in the nation was not particularly noticeable, it was only because there were still enough forces at work that operated for the good, so that it was kept under control. As it grew larger, however, and finally in an ultimate spurt of growth attained ruling power, the tumor broke open, as it were, and infected the whole body." The White Rose, Munich 1942
Keep in mind that this is an 'average' and that exogenous events can greatly affect the normalized results.
Chart courtesy of friend Brian at ContraryInvestor.
Gold Seasonality with Gold 2010 Daily Price Chart Overlay