Gold Poised for Surge Above 1900/GC; XAU & HUI Nearing Upside Targets.
01/03/22 Weekly Re-Lay Alert – “Gold & Silver remain strong and are fulfilling the overall outlook for a continued advance into late-Dec/early-Jan. – fulfilling a ~9.5 – 10-month high-high-high-(high) Cycle Progression and the latest phase of a ~6-week high-high-high-high-low-low-low-low-(high) Cycle Progression in Silver… that timed the early-Sept ’22 major low and subsequent Oct 14 and Nov 21 lows.
If this rally is able to stretch into Jan 6/9, Gold would perpetuate a 14 – 15 trading day low-low-low-low (Dec 15) – (high; Jan 6/9, ’23) Cycle Progression.
That is corroborated by an over-arching 66 – 68-day low-low-low-high (Dec 1 – 5) – high Cycle Progression in Gold that projects a future multi-week peak for Feb 9 – 11. The midpoint of that cycle – when a reinforcing 1 – 2 week peak would be a higher probability – is on Jan 6/9.
Gold has another weekly LHR near 1890/GCG, so a spike up to that level is possible by/on Jan 6. This week’s LHR is at 1891.1/GCG with 4 of the last 4 weekly LHRs at 1885.6 – 1895.7/GCG and 5 of the last 5 weekly LHRs at 1885.6 – 1903.9/GCG.
A surge to [1905 – 1910.6/GCG] would have Gold attacking its early-June ’22 highs – the 4th wave of lesser degree resistance from Gold’s 2022 decline…
The XAU & HUI remain on track for overall advances up to (or above) 135 – 137/XAU & 250 – 260/HUI. The Dec ’22 Intra-month PLLRs (which become the Jan ’23 LLRs, so they are valid until Jan 31) are at 133.98/XAU & 256.70/HUI, reinforcing those targets.
Weekly LHRs (137.07/XAU & 261.98/HUI) as well as the XAU’s monthly 21 Low MARC & 21 High AMAC (136.22 – 138.99/XAU) concur.”
Gold & Silver are reinforcing the outlook for an overall advance into 1Q ’23 and have fulfilled the potential for surges into the first half of Jan ‘23. Gold is likely to surge above 1910/GC in the coming week as it confirms a 3 – 6 month (or longer) bottom in Nov ‘22. Silver cycles were fulfilled with a 1 – 2 week (or longer) peak on Jan 3 – 6, ’23… so some consolidation is expected.
Copper and Platinum are reinforcing signs of strength and fulfilling projections for rallies into (at least) Jan ‘23.
What Does Early-Jan ’23 Action Portend for Late-Feb/Early-March ‘23?
Will Platinum AND Copper Continue to Surge Beyond early-Jan ‘23?
How Soon is Silver Likely to Exceed 24.50/SI?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.