Average monthly change (INR)
| Period | Mean | Minimum | Maximum | Observations |
|---|---|---|---|---|
| Jan | 2.18 | -2.42 | 6.17 | 8 |
| Feb | -0.38 | -5.89 | 6.84 | 8 |
| Mar | 2.57 | -2.23 | 9.91 | 8 |
| Apr | 1.1 | -3.42 | 4.36 | 8 |
| May | 1.54 | -1.81 | 5.51 | 8 |
| Jun | -0.19 | -5.05 | 5.7 | 8 |
| Jul | 2.26 | -2.35 | 10.76 | 8 |
| Aug | 1.37 | -2.9 | 9.86 | 8 |
| Sept | 0.5 | -5.13 | 12.07 | 8 |
| Oct | 2.91 | -0.29 | 8.31 | 8 |
| Nov | -0.37 | -5.96 | 4.93 | 8 |
| Dec | 2.98 | -0.57 | 4.6 | 8 |
Eight observations per month (2018–2025). Every month included a negative outcome.
Method, sources and limitations
Within each calendar month: (last available reference / first available reference − 1) × 100. The monthly mean weights each of the eight years equally; this is not prior-month-close total return.
- Not an MCX contract, executable quote or forecast. Reference history may combine providers and a futures proxy.
- Eight observations do not establish statistical reliability. Costs, taxes, rolls and execution are excluded.
- Some daily records are missing. Only months with at least 15 available daily records are included.
Reviewed: 2026-09-14. JavaScript first/last independently matched SQL for every monthly observation
Gold seasonality: read the pattern, check the sample
Gold seasonality is the study of recurring historical behavior by month or event window. Useful research checks tendency, consistency, sample size, macro context, and the difference between bullion and gold-stock seasonality.
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