Why you should buy gold on June 12

Following are some of the days considered auspicious for gold purchases in 2013 according to the Hindu calendar in India.

An important cyclical turn is expected in Gold during the latter part of the month (ideally sometime between June 20 – 25). Given the metal has been unable to gain much ground during the positive cyclicality of the past month a final move lower into this turn window now looks like the most likely scenario. Such action would finalize the bottoming process in place since mid-April and set up a potentially very important cyclical low. As of Friday’s close, DSI (daily sentiment survey of short-term futures traders) was at just 13% bulls. This skewed negative sentiment is further evidence that a low of some importance is nearing in the weeks ahead. Ideally we would like to see new lows below the April 16 low of 1321 and DSI in single digits around the June 20th turn window to set up the potential bottom.