Gold & Silver Fulfilling Project Surges into ~April 12/15th; Higher Targets in Focus!
04-03-24 Gold & Silver Surge Continues; Casting Shadows Ahead – Gold & Silver are surging in line with overriding wave timing targets, particularly in Gold (see excerpt on page 3). Based on multiple longer-term wave objectives (rally from Oct ’23 low = Oct ’22 – May ’23 rally; rally from Feb ’24 low = Oct – Dec ’23 rally, etc.).
For the past 6+ weeks, Gold had been projected to surge from ~2040 to ~2320/GCM in fulfillment of its mid-February buy signal.
That was/is the minimum upside target for this 1 – 2 month advance.
Gold is attacking this level but could easily stretch this rally to 2333 – 2357/GCM (monthly resistance and weekly LHR) with a brief spike above that level possible before a multi-week top takes hold.
A more near-term wave objective – where Gold’s March/April rally would equal the magnitude of its preceding February/March ’24 rally – is at 2356.3/GCM. Daily extremes reinforce that potential.
Silver maintains range-trading targets at ~26.75 & ~28.25/SIK**. 2 of the latest 3 weekly LHRs are at 27.72 – 28.09/SIK, reinforcing that upper target. The monthly HHR (28.18/SIK) concurs. (**A longer-term range target, on multiple levels, is at 30.50 – 31.25/SI.)…
Both Gold & Silver could set initial highs this week but maintain the potential to retest them around mid-month. Price action should clarify.
[A high on April 12 – 18th would fulfill a ~1-month/~30-degree low (Nov 13 – 18, ’23) – low (Dec 13 – 18, ’23) – low (Jan 13 – 18, ’24) – low (Feb 13 – 18, ’24) – low (March 13 – 18, ’24) – (high; April 13 – 18, ’24) Cycle Progression.]
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 & 23.00/SIK and be holding these w/avg. open gains of about $27,000/contract & $20,000/contract, respectively.
Move risk/exit levels to daily closes below 2280/GCM & 26.80/SIK. Exit 1/2 of Silver positions if/when 27.65/SIK is hit. 1/2 of Gold positions should have just been exited when 2319/GCM was hit – with avg. gains of about $27,000/contract. FUTURES TRADING INVOLVES SUBSTANTIAL RISK!
The XAU & HUI are surging in line with their monthly 21 MACs & 21 MARCs.
The action of the past 6 – 7 weeks has mimicked the weeks between mid-February and mid-April 2023, when the XAU embarked on a ~5 (7)-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… but potentially more powerful.
That was projected to 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). The HUI rallied for 8 weeks in 2023, so a spike into next week is plausible.
On a near-term basis, the XAU is reinforcing that – showing the probability for a surge to 134 – 138.00… that would powerfully confirm the buy signal triggered at 106.00 down to 102.60/XAU.
That is where extreme upside targets exist in the current week(s). The latest three weekly LHRs were at 131.52 – 134.52/XAU. while the current week’s LHR is at 137.96/XAU, just below the monthly Raw SPR at 138.15/XAU.
Broader resistance comes into play at 143 – 145.00/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/above ~138.00/XAU in the current week could subsequently usher in a few weeks of consolidation below that high.
On a broader basis, the February ’24 low projected a higher-magnitude advance to at least 157.00/XAU, where the current rally would match the magnitude of the late-2022/early-2023 rally.
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 127.76/XAU. 1/3 of these positions can be exited now (when 134.00/XAU is hit) & another 1/3 if/when 137.50/XAU is hit. FUTURES TRADING INVOLVES SUBSTANTIAL RISK!
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 was projected to take Gold above 2320/GCM. With this level already being reached, secondary (higher) targets are likely to be reached by/in mid-April 2024. (See latest publications for specifics.)
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.