Gold & Silver Corroborate Future Cycle Highs in Mid-Oct – Early-Nov ’23 & Jan ‘24.

09-17-23 – Gold & Silver remain in a wide (intra-year) range of trading, tracing out a perceived bottoming process in 2023 before cycles and the expected wave structure turn more bullish in 2024 and beyond.  Fundamentals are also projected to turn more supportive in 2024 – as the Dollar & interest rates are expected to retreat.

The first (2023) multi-month peak in Gold & Silver was forecast to occur in early-May ’23.  A second (2023) multi-month peak has been forecast to subsequently occur in mid-Oct ’23 (Silver) to late-Oct/early-Nov ’23 (Gold).  An intervening multi-week high was forecast to take hold in late-Aug/early-Sept ’23 and corroborate that outlook.  That came to fruition and corroborated the outlook for Oct/Nov ’23 peaks… after quick, sharp multi-week rallies.

 

The following recap reiterates this key analysis that should be kept as the primary focus for the coming months:

 

9-16-23 – “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.”

 

9-14-23 – “Gold & Silver remain in multi-month corrective phases from their cycle highs on May 3 – 5.  Those highs fulfilled ~3-month low-high-(high) & ~4-month low-low-high-(high) Cycle Progressions and were projected to usher in a corrective phase… That was recently fulfilled but a reversal higher has not yet been signaled.  (Silver’s monthly cycles allow for a final spike low…

Silver recently peaked during the week of Aug 28 – Sept 1, perpetuating a ~17 (16 – 18)-week low-low-high-high-(high) Cycle Progression that reinforces the future cycle peak in Jan ’24 (next phase of that ~17-week cycle is Dec 26 – Jan 5, ’24) while timing a multi-week peak.

That has spurred a drop back to its mid-Aug low, which needs to hold.  Looking ahead, the focus remains on the potential for a future, 1 – 2 month peak in late-Oct/early-Nov ‘23 – the next phase of a consistent ~9.5-month cycle that timed the March ‘22 peak and then the early-Jan ‘23 peak. It would also fulfill an over-arching ~19-month high-high-high-(high) Cycle Progression in Silver & complete a ~1-year/~360-degree advance in Gold.

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 and early-Nov ’23. 

(The former cycles are more pronounced in Silver while the latter are more synergistic in Gold.)

As explained repeatedly, the weekly 21 MARCs and other price/timing indicators do not usher in a potentially bullish period until after mid-Sept ’23, at the very earliest.  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 in the weeks leading into late-Oct/early-Nov ’23.”

 

9-09-23 – “Gold & Silver fulfilled ongoing analysis, 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… Silver fulfilled that and projected a sharp, initial rally from that mid-Aug ’23 low into early-Sept ‘23 – the midpoint of its over-arching ~8-month/35 – 37-week low-low-low-high-(high) Cycle Progression that projects a future peak in Jan ’24.

Silver rallied to new intra-month highs – an Intra-Month V Reversal higher in Aug ’23 – and peaked on Aug 28 – Sept 1, perpetuating a ~17 (16 – 18)-week low-low-high-high-(high) Cycle Progression that reinforces the future cycle peak in Jan ’24 (next phase of that ~17-week cycle is Dec 26 – Jan 5, ’24).

It peaked after testing its slightly-descending weekly 21 High MAC (25.24/SIZ on Sept 1) while twice neutralizing its weekly downtrend. 

Silver would not turn that weekly trend up, and confirm a multi-month bottom, until a weekly close above 25.42/SI… 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 and early-Nov ’23. 

(The former cycles are more pronounced in Silver while the latter are more synergistic in Gold.)

As explained repeatedly, the weekly 21 MARCs and other price/timing indicators do not usher in a potentially bullish period until… 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 in the weeks leading into late-Oct/early-Nov ’23.

Gold & Silver rallied into early-Sept ’23 and then corrected in line with weekly cycles.  Silver fell short of initial upside expectations, due in part to the fact it has not yet confirmed a 1 – 2 month low.”

 

9-06-23 – “Gold & Silver remain in multi-month corrective phases from their cycle highs on May 3 – 5. Those fulfilled ~3-month low-high-(high) & ~4-month low-low-high-(high) Cycle Progressions and were projected to usher in a corrective phase…A secondary peak arrived in mid-July, fulfilling a ~3-month/~90-degree Silver cycle from its mid-April & mid-Jan ’23 highs.

Those highs were preceded by lows in mid-Oct & mid-July ’22… and a high in mid-April ’22… a consistent string of ~3-month turning points that preceded multi-week declines.  The mid-July ’23 high fulfilled a ~3-month/~90-degree low-low-high-high-(high) Cycle Progression and projects another high in mid-Oct ’23…

Silver rallied to new intra-month highs in late-Aug ‘23 – producing an initial surge and completing an Intra-Month V Reversal higher.  It peaked during the week of Aug 28 – Sept 1, perpetuating a ~17 (16 – 18)-week low-low-high-high-(high) Cycle Progression that reinforces the future cycle peak in Jan ’24 (next phase of that ~17-week cycle is Dec 26 – Jan 5, ’24)…

Looking ahead, the focus remains on the potential for a future, more significant (1 – 2 month?) peak in late-Oct/early-Nov ‘23 – the next phase of a consistent ~9.5-month cycle that timed the March ‘22 peak and then the early-Jan ‘23 peak. It would also fulfill an over-arching ~19-month high-high-high-(high) Cycle Progression in Silver & complete a ~1-year/~360-degree advance in Gold.

The early-May ‘23 peak created a corroborating ~6-month/~180-degree low (early-Nov ‘22) – high (early-May ‘23) – high (early-Nov ‘23) Cycle Progression.  As discussed the past couple months, the ideal time for an accelerated rally is [reserved for subscribers], due to key cycles and the weekly 21 MARC.”

 

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