Gold & Silver Reinforce Divergence; Portend Lower Silver Low & Higher Gold Low.
11-30-24 – “Gold & Silver reversed back down after rallying from intermediate cycle lows on Nov 11 – 18th. Multiple price targets and support levels converged at 29.71 – 29.86/SIZ, which is exactly where Silver bottomed in mid-November.
Gold bottomed just above extreme downside support while creating the largest decline since May – Oct ’23 and, at the same time, matching the magnitude of that previous sell-off (~260.0/GC declines in both cases).
Gold has neutralized its weekly uptrend multiple times and would not turn that trend down until a weekly close below 2541/GCZ.
As long as that does not occur, Gold is poised to enter a new wave higher. The daily trend pattern concurs.
However, Silver continues to lag and could easily see a drop to 27.50 – 28.00/SIH.
For the past 3+ weeks, it has traded inside its flattening weekly 21 MAC and is poised to turn that channel lower AND potentially close below it. A daily and weekly close below 30.00/SIH would confirm. In the near term, Silver could drop into Dec 6/9th.
If Gold & Silver bottom before the end of 2024, they would likely be completing a larger-magnitude wave ‘4’ (or ‘IV’) of the overall advance from the late-2022 low. That would pave the way for a wave ‘5’/’V’ advance into (at least) Oct/Nov 2025. The similar-magnitude decline in Gold corroborates that wave potential.
A potential low could be divergent, similar to recent highs and many other intermediate turning points, with Silver setting a lower low while Gold sets a double bottom (equal low) or higher low.
Gold & Silver reversed back down in sync with Silver’s daily trend and daily 21 MAC… and the normal reaction following Gold’s positive daily trend reversal.
Silver has again rebounded to its declining daily 21 Low MAC and could embark on a new sell-off if it fails to close above 31.30/SIH early in the coming week. In contrast, Gold would not enter negative territory until a daily close below 2629/GCG.
The XAU & HUI have consolidated after dropping sharply in late-Oct/early-Nov – validating cycle highs that peaked on October 21/22nd while perpetuating an ~18-week low-low-low-low-(high; Oct 21 – 25, 2024) Cycle Progression and many other cycles.
The XAU neutralized its weekly uptrend multiple times but would not turn that trend down until a weekly close below 142.35/XAU. Similar to Silver, the XAU has bounced to its declining daily 21 Low MAC and could see another decline in the coming week(s). A drop to 130 – 133/XAU remains a high probability.”
Gold, Silver & XAU sold off after fulfilling ongoing projections for a surge into late-October ’24. Both Gold & Silver fulfilled downside objectives but only Gold is affirming a 1 – 2 month low is intact. Gold fulfilled a pair of significant downside wave objectives, without turning its weekly trend down, increasing the likelihood for a multi-month low. In contrast, Silver is showing that it could drop to lower lows in December ’24.
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 and projected a multi-year bull market to follow…
Outlook 2022/23: A New Currency War Begins
Outlook 2023: A New Currency War & Inflation
40-Year Cycle – Dollar Dominion, Dilemma & Demise
Gold & Silver (& US Dollar) fulfilled the latest phases of their 2022 – 2027 outlooks with the Dollar bottoming in late-Sept and metals surging into late-Oct ’24… reinforcing analysis for a series of future Gold peaks projected for 2025 & 2026. The late-October high reinforces future Gold cycle highs in early-Feb, early-May & early-Nov ‘25. Gold could be setting a low now and preparing for a rally back to its high.
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