Gold & Silver Fulfilling Multi-Month Cycles Highs; Late-October Peaks Likely.
10-26-24 – “Gold & Silver rallied strongly with Silver attacking its weekly LHR an extreme upside weekly target – at 34.03/SIZ. It reached 33.97/SIZ on Oct 18th, effectively fulfilling that upside objective and increasing the likelihood for a 1 – 2 month peak in the subsequent week(s).
That also fulfilled expectations for Silver to attack ~34.00/SIZ, its upside range-trading target that coincide with October’s monthly resistance at 33.96 – 34.55/SIZ. And, it fulfilled the initial objective for a wave ‘v’ of ‘5’ of ‘III’ wave peak. Silver briefly spiked above that but closed the week back below it, reinforcing a potential top.
Gold is fulfilling its Oct 11th weekly 2 Close Reversal higher that reinforced the outlook for an overall advance into late-October ‘24 – 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 this past week (into October 28th) and could help time a top. Price action needs to clarify since Gold could extend its rally into early-November, the next phase of its ~5-week/34 – 37-day low-high-high-high-(high; Oct 30 – Nov 4) Cycle Progression without violating the broader outlook.
However, with both metals now in the midst of a multi-week period when a major top is most likely, 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. If so, a drop into mid-November is possible.
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.
Gold & Silver surged into a ~2-week period when a multi-month peak is most likely. It would take daily closes below 2708/GCZ & 33.20/SIZ to produce the first convincing signs of a top and validate the potential for a drop into mid-Nov.
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 twice neutralized their daily uptrends, needing daily closes below the Oct 25th lows to turn down.
Platinum & Palladium are fulfilling projections for new surges into the week of Oct 28 – Nov 1st, when weekly Cycle Progressions converge. This comes after Palladium turned its weekly trend up & completed an entire weekly 21 MAC (bullish) reversal sequence in September… and then pulled back to retest that channel multiple times.
That projected Palladium to surge from ~1000 to ~1200/PAZ in a brief period of time, which was just fulfilled this past week.”
Gold & Silver (as well as XAU & HUI) are in the middle of 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.
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 will likely trigger a quick sharp correction as Gold portends a series of future peaks in 2025 & 2026.
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