Gold/Silver & XAU/HUI Fulfill May 20 Cycle High & Upside Price Targets; Sell-off Begins.
05-22-24 – Gold & Silver surged in (initial) fulfillment of the outlook… after retracing to, and holding, downside targets at ~2300/GCM & ~26.50/SIN. Silver is confirming projections that May 2, 2024 ushered in a decisive period when a new multi-week… surge would take hold.
That would fulfill the ‘ideal’ price, wave, and cycle scenario… The buy signals of May 2 – 6th validated that scenario and projected a new surge into May 20th (+ or – 1 trading day) before an initial high would take hold. Both metals surged into May 20th with Gold setting new all-time highs (fulfilling its weekly trend) as Silver spiked to new multi-year highs and right to its initial upside target at 31.50 – 32.20/SIN.
It peaked right at its intraday Preliminary LLR (29.70 low – 31.18 low projected May 20th high near 32.66/SIN) and spurred a pullback that could see Silver retest its xx.xx/SIN…
The XAU & HUI resumed their advances and were also projected to surge into ~May 20th before a near-term peak would be most likely. The XAU was forecast to surge to at least ~148.00/XAU and potentially to 150.50 – 152.00/XAU… They rallied into May 20th with the XAU topping at 152.02 before pulling back…
1 – 3 month traders & investors could have entered long positions in related instruments (ETFs, stocks, etc.) when the XAU was at 102.60 – 106.00 in late-February ‘24 – when the buy signal was published – and exited 1/3 of those positions when 134.00/XAU was hit. Another 1/3 could have been exited when 138.00/XAU was hit.
Exit the remaining 1/3 on a daily close below 139.20/ XAU (or a test of 156.40/XAU). TRADING INVOLVES SUBSTANTIAL RISK!
Gold & Silver fulfilled their early-May buy signals, surging right to upside price targets and into intermediate cycle highs on May 17/20th. A multi-week top is expected at this time and could spur a sizeable sell-off.
The action since late-2022 is powerfully validating the onset of a new 40-Year Cycle of Currency War in which Gold & Silver possess unique potential for 2024! Gold is acting as the ‘Canary in the Coal Mine’ and has fulfilled projections to break out to the upside. However, an ongoing battle with the Dollar Index should intensify volatility in preparation for the biggest surprises in 2025.
Gold & Silver Fulfill New Signals & Projected Surges into May 17/20th.
Silver Showing Relative Strength.
40-Year Cycle (Projected) Impact on 2024/2025 Powerfully Reinforced.
40-Year Cycle – Dollar Dominion Dilemma & Demise
40-Year Cycle – Currency Wars & Cryptos
Solar, Seismic & Gold Intensity Cycles
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.