Gold/Silver Attacking Initial Support; Gold Cycles Bottom June 7/10th.
06-05-24 – Gold & Silver have retreated after surging into May 20th and setting multi-week highs. At the time, Gold set 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.
Silver has already retraced to its initial downside target (29.50/SIN) but could spike lower if Gold spikes down to/below its early-May low. Silver has its next level of support around 27.80/SIN.
Silver has a ~14-month/~60-week high-high-(high) Cycle Progression that recurs on June 24 – July 5, 2024 and portends a peak. That reinforces a ~30-week (30 – 31-week) high-high-high-high Cycle Progression that recurs on June 24 – 28 (and July 1 – 5) 2024…
The XAU & HUI are declining after fulfilling projections for overall surges into ~May 20th and to 150.50 – 152.00/XAU. The May 20th high fulfilled successive advances of equal duration (~80 days) while fulfilling a ~5-month high (July 18 – 22) – high (Dec 18 – 22) – (high; May 18 – 22, 2024) Cycle Progression.
A drop to 133.50 – 135.00/XAU could be seen in the current week… with a spike as low as ~130.70/XAU arriving early next week (if not sooner).
On a larger-scale basis, the XAU & HUI remain in multi-month uptrends that could ultimately extend into September ’24 before a 6 – 12-month peak would be most likely.”
Gold & Silver fulfilled their early-May buy signals, surging right to upside price targets and into multi-week/multi-month cycle highs on May 17/20th. A multi-week top was projected and a subsequent low in June… before a new rally into July 2024 – when Gold is projected to set a decisive, multi-month peak. (Silver had greater synergy of cycles in May 2024, so a July ’24 peak could be a divergent/lower high than Gold.)
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 & 2026.
Gold & Silver Fulfill Projected Surges into May 17/20th; Drop to Initial Support..
June ’24 Low Should Spur New Rally into July 2024 Peak!
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.