Gold & Silver Reach Upside Extremes; Late-October Peaks Likely.
10-30-24 – “Gold & Silver remain strong with both having attacked pivotal upside targets in late-October – the ideal time for a multi-week or multi-month high. A peak in late-October ‘24 would fulfill the latest phase of an ongoing ~1-year/~12.5-month high-high-low (Aug ’21) – low (Sept ’22) – low (Oct ’23) – (high; late-Oct 2024) Cycle Progression.
The related ~54-week cycle and 27-week low-high-(high) Cycle Progressions peaked last week (into October 28th) and could help time a top.
A normal 1 – 2 week range of error coincides with nearer-term cycles that could see Gold peak at any time now, the latest phase of a ~5-week/34 – 37-day low-high-high-high-(high; Oct 30 – Nov 4) Cycle Progression.
Bottom Line: Metals are in the midst of a 1 – 2-week period when a major top is most likely with Gold now entering the most synergistic period. Price action needs to clarify exactly when and where those peaks (and reversals lower) are taking hold.
It could occur at any time… and may have already done so in Silver. A daily close below 33.20/SIZ would confirm that.
Metals continue to reinforce analysis that projected major, multi-year lows to take hold in late-2022 and lead to a multi-year advance.
Ultimately, these trends could spur higher prices into 2027 – when major cycles converge.
The XAU & HUI fulfilled upside projections in price and time as the XAU surged into a synergistic convergence of geometric cycle highs on October 21/ 22nd and topped while fulfilling an ~18-week low-low-low-low-(high; Oct 21 – 25, 2024 Cycle Progression as well as the following:
- ~4-month low (Feb 13) – low (June 17) – (high; October 21/22, 2024) Cycle Progression.
- ~2-month low (Feb 13) – low (April 16) – low (June 17) – high (Aug 20) – (high; October 21/22, 2024) Cycle Progression.
~3-month high (Jan 12) – high (April 12) – high (July 16/17) – (high; October 16 – 22, 2024) Cycle Progression.
That also fulfilled a similar ~1-year/~12.5-month high-high-low (Aug ’21) – low (Sept ’22) – low (Oct ’23) – (high; late-Oct 2024) Cycle Progression as in Gold.
They have since sold off and neutralized their daily uptrends multiple times, needing daily closes below the Oct 25th lows to turn down. If that occurs in the coming days, these indexes could quickly drop to their early-August lows.”
Gold & Silver (as well as XAU & HUI) are completing the time when a multi-month peak is most likely. Ideally, that would occur in the current week (late-October ’24) and usher in a multi-month corrective phase, while projecting focus to key time frames in 2025… for future highs.
The 40-Year Cycle of Currency War continues to impact Gold and its relationship to the US Dollar. Gold fulfilled major cycles in Sept/Oct 2022 when it perpetuated a 7-Year Cycle of consistent lows (2001 – 2008 – 2015 – 2022) that coincided with the onset of a new 40-Year Cycle of Currency War AND 80-Year Cycle of War…
Outlook 2022/23: A New Currency War Begins
Outlook 2023: A New Currency War & Inflation
40-Year Cycle – Dollar Dominion, Dilemma & Demise
Late-2023 was projected to reaffirm this analysis when Middle East War Cycles were projected to reignite (in October 2023… exactly when war broke out)…
Middle East War Cycles Collide in Late-2023
In the subsequent months, Gold powerfully validated that cycle and projected a breakout surge in the months/year to follow the early-October 2023 low…
Solar, Seismic & Gold Intensity Cycles
All that sets the stage for what has been projected for Gold (as well as the US Dollar, Bitcoin, etc.) in 4Q 2024… and throughout 2025. The current phase of that outlook should spur a final peak (for 2024) in Gold – leading into late-October 2024 when multi-month & multi-year cycles converge. That would reinforce a series of future peaks projected for 2025 & 2026… as Gold’s bull market continues.
See current publications for the most updated analysis.
INSIIDE Track Trading – Subscriptions Order Page
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.