Are the summer doldrums a thing of the past?

Gold first broke above $2400/Oz on 17 May 2024. Staying above that threshold was not evident. It lasted for three trading days.

The summer minimum

Demand for gold for jewelry tends to ease during summer. Jewelry producers and  mints allow for their staff to take a summer break. Unless there is any other pent up demand, gold prices are usually weaker during summer.