Gold & Silver Await Bullish Period; October ‘23 Rally Still Projected.

09-16-23 – “Gold & Silver are in a basing period after fulfilling ongoing analysis (published since March ’23) for an overall decline from their early-May ’23 highs – that fulfilled multi-month cycles and were projected to be 3 – 6 month peaks – into the 2-week period of Aug 14 – 25, ’23.

By setting lows on Aug 15 – 21, they fulfilled the latest phase of a consistent 22 – 23-week high-high-high-high-low-low-(low) Cycle Progression in which Aug 17 – 22 represented the ideal time (the dates with the greatest synergy of converging cycles) for a bottom.  Silver has retested that low but initially held it, reinforcing the mid-Aug ’23 cycles while also fulfilling its own monthly cycles in Sept ’23.

Silver has increased its volatility while extending consolidation, dropping into Gold/Silver cycles on Aug 17 – 21, then shooting up to its own weekly cycles in late-July, and then plunging back to retest its mid-Aug low in mid-Sept ’23 – when monthly cycles converge.

If Silver’s recent low holds, it would perpetuate a 12-month high (Sept ’19) – low (Sept ’20) – low (Sept ’21) – low (Sept ’22) – (low; Sept ’23) Cycle Progression as well as a corresponding ~6-month high (Sept ’19) – low (Mar ’20) low (Sept ’20) – low (Mar ’21) – low (Sept ’21) – high (Mar ’22) – low (Sept ’22) – low (Mar ’23) – (low; Sept ’23) Cycle Sequence that has been in focus since late-2022…

Gold & Silver maintain the potential for a late-Sept/early-Oct advance that should carry them higher into multi-month cycles converging between mid-Oct & early-Nov ’23.  As explained repeatedly the last few months, the weekly 21 MARCs and other price/timing indicators do not usher in a potentially bullish period until after mid-Sept ’23.

An accelerated advance is most likely at some time between mid-Sept & mid-Oct ’23, based on those indicators.  That is also the most likely time for a strong rally in line with the 90/10 Rule of Cycles and analysis for the majority of this next advance to take hold just before late-Oct/early-Nov ’23.”

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Gold & Silver have dropped after fulfilling projections for a quick surge into early-Sept ’23 when a multi-week high had been projected.  That produced a 1 – 2 month high while corroborating future cycle highs projected for early-Jan ‘24.  They are seeing more weakness, in the short-term, than what was expected… as they await bullish cycles that begin in late-Sept/early-Oct ‘23… and are expected to spur a sharp multi-week rally into early-Nov ’23.

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 late-2023 – late-2024!  The 90/10 Rule of Cycles in Gold continues to project a sharp advance in Oct ’23 – in the final weeks leading into a (potential) early-Nov ’23 peak.

 

Where are Metals Likely to Rally in 4Q ’23? Will Middle East War Cycles Have an Impact??

How Does 90/10 Rule of Cycles Project Sharp Rally in October ’23?

Why are early-Nov ’23 Cycle Highs the Key to 2024 Outlook?

 

Refer to the April 11, 2023 special issue of The Bridge – Gold, Silver and Elliott Wave Structure – and subsequent reports – for expanded analysis and charts.

 

Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.