Gold Reinforces Multi-Week Pullback; Silver & XAU Poised to Outperform Gold.

07/03/19 Weekly Re-Lay Alert: “Gold & Silver pulled back but were only able to neutralize their daily uptrends before reversing back up.  That could/should spur a rally to new highs…

It would take daily closes above 1441.0/GCQ & 15.510/SIU to turn the intra-month trends up and project any additional upside beyond the next few days.  (With metals confirming higher magnitude advances – that are still expected to last into/through 2020 – they are more likely to begin stretching cycle highs to the extreme, so additional upside would simply reinforce the outlook.)

The XAU has initially fulfilled expectations for a surge from May 22 into June 24 – 28 and up to ~86.00/XAU, where this new rally equals the magnitude of the Sept. ’18 – Feb. ’19 advance.  That does not, however, prevent additional upside in the coming days.

It also gave a monthly close above 80.76 – a more convincing bullish signal that allowed the XAU to close above its monthly 21 High MAC for the first time since Aug. 2017.

It pulled back to begin July, nearly reaching initial support at 80.50 – 80.76/XAU, and rebounded.  It would take a daily close above 84.33/XAU to extend this advance (in the short-term) and potentially spike above the recent high.”

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Gold maintains potential for higher levels in July/3Q 2019.  Gold/Silver Index (XAU) elevates advance while reinforcing forecast for overall surge into August ‘19 and ideally above 90.00.  Pullback to ~80.76 should spur surge above 88.19 in July… and corroborate outlook for strength in Aug. ’19.  Monthly trend signal is also crucial in Aug. ’19.  Silver poised for accelerated rally, as it signals time to outperform Gold.

Why are Silver & XAU Projecting Greater Gains Than Gold? 

Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.