The best month for gold is heading this way

"Gold dropped 1 percent on Monday, its biggest one-day drop since July, as encouraging U.S. retail sales data prompted funds to reduce their bullish bets in bullion after its recent sharp rally," with the price falling as low as $1,729 before consolidating near $1,735, Reuters reported. However, as Felix Pinhasov reminds investors at Seeking Alpha, October tends to be a tough month for gold (as well as other asset classes), but November has historically been robust. Therefore, the current dip could be a nice buying opportunity:

A correction in the price of gold in October will not be out of the ordinary. In fact, it is probably necessary for the price of gold to correct and thereby attract those who missed the rally of August and September to enter the picture and push prices higher.

A move toward the $1725-$1735 support levels will be a decent entry point for those looking to capitalize on what is gold's best month - November. ... November has been the best month to own gold over the past 12 years, returning over 4 percent on average. ...

Although seasonality is not a definite indicator (the past cannot predict the future), the expansion of the Federal Reserve balance sheet by roughly $40B per month bodes well for this seasonal scenario. In addition, the conclusion of the presidential race (no matter the winner) has historically been known to remove some market uncertainty and push money into financial assets. 

More information can be found online at http://www.goldbullionadvisors.com