Gold & Silver Heading Lower

Gold & Silver Heading Lower; 
Gold & Silver Stocks Remain Weak.
Late-Nov. ’15 = Intermediate Cycle Low.

11/07/15 Weekly Re-Lay: “Gold & Silver are confirming the intermediate highs set in October, in line with daily & weekly cycles… and the latest phase of 2015 expectations.  That was projected to be the culmination of an initial, multi-month bounce from the late-July cycle low.

Silver triggered an outside-week/2 Close Reversal lower as it re-entered its weekly downtrend in late-Oct.  Gold had re-entered its weekly downtrend during the preceding week.

After only attaining its minimum upside targets in October, Gold remains relatively weak and – along with Silver – is fulfilling the overall outlook for a subsequent low in November 2015.  That is the latest phase of the ~4-month/~17-week cycle that timed the Nov. ’14 low & was projected to produce subsequent lows in MarchJuly & Nov. ‘15.  So far, it has fulfilled those targets.

That cycle dates back even farther, incorporating highs in March & July 2014, creating a ~4-month high-high-low-low-low-(low) Cycle Progression… that would also include a 1-year/~360-degree move from the November 2014 low – if a low is set in Nov. 2015.

Volatility is expected to continue in November, as this expected secondary bottom gradually takes hold.  As stated before, a new advance is expected to wait until late-Nov, to begin to take hold.  (But, a convincing advance is still not expected to occur until 2016.)

The XAU is reinforcing its latest downtrend – after failing to turn its weekly trend up during the previous rally.  That signaled an intermediate peak in mid-Oct. – coinciding with a retest of its year-opening low (support turned into resistance) – and a drop into November.

Platinum has set a low in 4Q 2015, initially fulfilling a 7-year low-low-low Cycle Progression.  However, it could still spike to new lows before the end of the year.  Early-December – the next phase of a ~60-degree low-low cycle – could time the next low.

Copper remains on track for a Major low in 2015, most likely in Nov. or Dec.  It did not reach new lows in the beginning of November, so further downsideis still likely…

Gold & Silver turned their daily trends down, reaffirming that multi-week highs are in place.  This focuses attention on the potential – discussed since July – of a subsequent low in November.”

2016 = Golden Year (when first sustained advance expected)

1033–1045/GC = 2015 Target