Gold Soars To Seven-Week High
Danny Boyle’s Opening Ceremony for the 2012 London Olympics brought audiences on a beautifully chaotic journey through many iconic moments in modern British history. It made for an awe-inspiring beginning to the world’s most legendary event.
Ironically, while much of the world watched live as the 2012 London Olympics began, American audiences had to wait until prime-time to watch the lighting of the flames. NBC spent $1.3 billion on the rights to the Olympics, namely the Opening Ceremony that American audiences watched which was vastly different than what the rest of the world witnessed.
The correlation between the opening ceremonies of the Olympics and the spot prices of the metals in which its medals are composed of is uncertain and can only be speculated upon. There is however a distinct pattern that can be charted which warrants the attention of gold investors.
Gold Performance: 2008 Opening Ceremonies – 2012 Opening Ceremonies
This pattern indicates that the spot price of gold has increased sharply between the opening ceremonies in 2008 through those of 2012. It is also important to note that historically, gold has also experienced an uptrend in the month of August.
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