Gold & Silver Poised for Early-July Surge; Likely Peak By Mid-July ‘24!
06-29-24 – Gold & Silver remain on track for final surges into July 2024… Gold & Silver have retreated after surging into May 20th and setting multi-week highs. At the time, Gold set new all-time highs (fulfilling its weekly trend & reinforcing the attainment of its 3 – 6 month upside target in April) and created a new double top… as Silver spiked to new multi-year highs and right to a crucial upside target at 31.50 – 32.20/SIN.
They corrected for several weeks and may have just bottomed with both fulfilling a ~19-week low-low-low-(low; June 24 – 28, ’24) Cycle Progression while Gold again tested its rising weekly 21 High MAC and reversed higher. This should spur a new rally into/through the first two weeks of July.
Gold & Silver now enter the month (July 2024) that has been in focus for over a year. It is the most likely month, cyclically-speaking, for a final spike high and resulting 3 – 6 month peak.
On a monthly-chart basis, Gold & Silver maintain the potential for a retest of those highs – or a spike to higher highs – during the month of July 2024.
That is based on a host of corroborating monthly cycles all converging in July ‘24. It would also fulfill the ongoing parallel – to the 2016 – 2020 bull market – that has unfolded since late-2022. In both bull markets, Gold rallied for 7 – 8 months and then sold off for ~5, retracing 70 – 75% of the initial rally.
In 2016/2017, Gold subsequently rallied for ~9 months – into Sept 2017 – before setting a multi-month peak.
In 2023/2024, Gold was/is forecast to do something similar and rally into the month of July ‘24 – a ~9-month advance from its Oct. ‘23 low.
If a peak stretches into July 8 – 12, ‘24, it would precisely perpetuate a ~31-week low-high-high-(high; July 8 – 12, ‘24) Cycle Progression that has governed Gold since its 7-Year Cycle bottom in September 2022..
A rally into – and peak during – the month of July 2024 would fulfill what has been projected since the March 2022 peak and since the ensuing May 2023 peak… and since the October 2023 low.
That would fulfill a ~28-month low-low-high-(high; July 2024) Cycle Progression and an equally-significant ~14-month low-low-low-low-high-high-
Gold remains on course for a final surge into/in July 2024 – when it is projected to set a decisive, multi-month peak while retesting its recent high. (Silver had greater synergy of cycles in May 2024, so a July ’24 peak could be a divergent/lower high than Gold.) Gold’s weekly 21 High MAC continues to reinforce this outlook and should soon spur a multi-week rally.
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 portending an ongoing battle with the Dollar that should intensify in 2025 & 2026.
Gold Holding Weekly 21 High MAC Support; Final Surge Still Likely.
Gold Projects Retest of – and Peak Near – Recent Highs in July 2024!
How Does Weekly Trend Pinpoint Likely Level for July 2024 Gold Peak?.
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Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.