Gold/Silver Project New Surges into Mid-May; XAU & HUI Poised for Quick Spike High.
05-08-24 – Gold & Silver retraced to, and held, initial downside targets at ~2300/GCM & ~26.50/SIN without turning their new intra-month trends down. Silver then turned its new intra-month trend up while Gold needs a daily close above 2340/GCM to do the same and to project a new round of upside into (at least) mid-May ’24.
Silver is at a decisive juncture and is starting to reinforce the ‘ideal’ price, wave, and cycle scenario – projecting the next peak (one that could be more significant than existing ones) – to arrive in late-June/early-July 2024, when a myriad of cycles converge.
Silver has a ~14-month/~60-week high-high-(high) Cycle Progression that recurs on June 24 – July 5, 2024 (2-week period with the entire month of July 2024 representing the next phase of a broader ~14-month cycle). That reinforces what Silver’s most consistent multi-month cycle – a ~30-week (30 – 31-week) high-high-high-high Cycle Progression that recurs on June 24 – 28 (and July 1 – 5) 2024 – portends.
If Silver continues to hold its May 2nd low, it could embark on a fourth consecutive 58 – 60 day rally – culminating on June 28/July 1, 2024. That is the time frame (duration) of every primary advance Silver has completed since March 2023.
Gold continues to project a major peak in xxxx 2024 – the culmination of a myriad of monthly cycles. That would also perpetuate the timing parallels to the previous multi-year advance and its initial action in 2016/2017 (see recent INSIIDE Tracks for more specifics on this outlook).
In the coming weeks, Gold & Silver could see a rally into May 17 – 24th (greatest synergy of cycles is May 17, 20 & 21st) – the next phase of daily cycles that helped pinpoint the mid-April ’24 highs.
The XAU & HUI have consolidated for ~3 weeks with the XAU dropping to support (~130.50/XAU) without turning its daily trend down. It would not turn negative until a daily close below 130.60/XAU. Both are attempting to turn their intra-month trends up, which could spur more upside (potentially to new highs) leading into next week.
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 132.40/ XAU (or a test of 150.30/XAU). TRADING INVOLVES SUBSTANTIAL RISK!
Gold & Silver fulfilled their mid-February buy signals, surging into intermediate cycle highs on April 12/15, 2024 and peaking right near their extreme upside targets at 2445/GCM & 30.00/SI. They have since pulled back to support and are projecting surges into May 17/20th.
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 Trigger New Signals… Project 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.