Gold & Silver Project New Surges into ~April 12/15th; ~2320/GCM = 1st Target!
03-30-24 – Gold & Silver are resuming their rallies after Gold surged to initial upside targets and then pulled back to its breakout level (2150 – 2170/GC) – a textbook example of resistance turned into support.
Based on multiple wave objectives (rally from Oct ’23 low = Oct ’22 – May ’23 rally; rally from Feb ’24 low = Oct – Dec ’23 rally, etc.), Gold is still likely to see a surge to ~2320/GCM as part of its latest primary advance – an advance that could/should peak in the first half of April 2024. Its Intermediate LLH objective is at 2324/GCM.
That is also where a pair of long-term wave targets converge and the latest range-trading target after Gold’s break about 2150/GC. Those are all minimum upside targets.
Monthly resistance and the latest weekly LHR could stretch this rally to 2333 – 2342/GCM with a brief spike above that level possible before a multi-week top takes hold… After surging to new intra-year highs, Silver just pulled back to its rising weekly 21 High MAC – the ideal setup for a new rally…
On a broader basis, Gold remains on track for an overall advance – from pivotal lows in October ‘22 and October ‘23 – into [reserved for subscribers]…
1 – 3 month & 3 – 6 month traders/investors could have entered long positions in Gold & Silver at averages of 2045/GCM (after rolling from April contract) & 23.00/SIK. Move risk/exit levels to [reserved for subscribers]. FUTURES TRADING INVOLVES SUBSTANTIAL RISK!
The XAU & HUI are surging in line with their monthly 21 MACs & 21 MARCs. The action of the past 5 weeks has mimicked the weeks leading into and beyond early-March 2023, when the XAU embarked on a 5-week surge.
In both cases, the XAU suffered a final sharp sell-off for ~2 weeks, bounced, then retested that low ~2 weeks later. In 2023, that led to an overall advance of ~35.00/XAU points over a ~5-week period.
2024 was projected to see something similar.
That could spur a surge above 137.00/XAU – leading into April 1 – 5th (7 weeks from the initial low and 5 weeks from the retest low). On a near-term basis, the XAU is reinforcing that – showing the potential for a surge that could spike as high as 134 – 138.00… and powerfully confirm the buy signal triggered at 106.00 down to 102.60/XAU.
That is where extreme upside targets exist in the coming week(s). The latest three weekly LHRs were at 131.52 – 134.52/XAU. while the coming week’s LHR is at 137.96/XAU, just below the monthly Raw SPR at 138.15/XAU.
In addition, the XAU fulfilled what was described all month – by closing the month above 126.29. That gave a bullish monthly 21 MAC signal while turning the intra-year trend up. A spike up to ~138.00/XAU in the coming week could subsequently usher in a few weeks of consolidation below that high.
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. Risk/exit on a daily close below 119.40/ XAU. Exit 1/3 of these positions if/when 134.00/ XAU is hit & another 1/3 if/when 137.50/XAU is hit. FUTURES TRADING INVOLVES SUBSTANTIAL RISK!
Platinum & Palladium are steadily building a base but Platinum needs a daily & weekly close above 1021/PLN to confirm a multi-month bottom and to project a higher magnitude advance that could last into late-May/early-June 2024.
Platinum has been following a fairly consistent ~3-week cycle – most recently creating a 21 – 22 day high-low-low-low-low Cycle Progression – from its December 28, ’23 high – that could spur a rally into ~April 12th. (A ~3-week low-low-high led into the Dec 28th peak so that cycle has been in force since early-Nov ‘23.)”
Gold & Silver are fulfilling their mid-February buy signals – projecting acceleration higher into at least April 12, 2024. A myriad of cycles peak between April 12th & April 19th and should time an initial, 1 – 2 week high…
Gold & Silver Projecting Accelerated Surges into April 2024; Middle East Cycles Collide!
The current advance is projected to take Gold above 2320/GCM with Silver projected to exceed 28.00/SIK as the XAU surges to/above 137.00 into April 2024. Secondary (higher) targets could be reached by/in mid-April 2024.
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 in March 2024!
Related cycles reinforce the likelihood for intensification of Middle East War Cycles in 2024 – with a new escalation of Iran vs Israel conflict likely to spur gains in Gold & Silver. Watch March 20 into April 19/20 as the most likely time for escalation of tensions in the Middle East, new surges in Gold & Silver, AND a sell-off in stock markets. (The March 2024 INSIIDE Track recently elaborated.)
A 180-degree move from the October 7, 2023 attack on Israel arrives in early-April ’23… a cyclically likely time for a new attack of some form… and acceleration higher in precious metals.
What Will Gold Surge Portend for Other Markets??
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.