Gold/Silver & 17-Year Cycle Instability; Critical Peak Projected for July 2024!
05-30-24 – The 17-Year Cycle remains the primary focus for 2024 – 2026. It is a unique cycle that has been discussed in INSIIDE Track since the late-1990’s and which is known for its impact on stock market swings.
As explained repeatedly, it is also linked to real estate and interest rates, geopolitics and Middle East conflicts, and a host of other related and unrelated events.
Very recent scientific research has identified this cycle in solar storms & sunspots, as well. And INSIIDE Track analysis continues to demonstrate that these occurrences are VERY closely linked to global periods of instability…
Multi-year trend in Gold & Silver is positive, reinforcing projections for major lows in late-2022 with Gold completing a ~2-year ’flat correction’ in 4Q ‘22, when multiple cycles bottomed and projected strong 2 – 3 year advances to follow. Gold has broken out to new all-time highs with Silver also surging. A peak is likely in July 2024…
Gold & Silver did consolidate for several weeks – after fulfilling everything that was expected from a March/April ‘24 surge – before triggering new 1 – 3 week buy signals in early-May ’24…
They subsequently surged into May 17/20th when a multi-week peak was forecast with Gold retesting its April high while Silver spiked to crucial upside targets near 32.20/SIN – both fulfilling their upside objectives for that advance. That should spur a correction into June 3 – 7th, followed by a rally into late-June/early-July ‘24. This, too, hints at the potential for some form of challenging ‘event’ in June ‘24.
Gold & Silver continue to trace out movement that parallels their 2016 – 2020 bull markets… first rallying for 7 – 8 months and then selling off for ~5 months, retracing 70 – 75% of their initial rallies.
In 2016/2017, Gold subsequently rallied for ~9 months – into Sept 2017 – before setting a 1 – 2 year peak. The parallels could continue…
In 2023/2024, Gold was/is forecast to rally into July ‘24 – a ~9-month advance from its Oct. ‘23 low.
On a broader basis, Gold & Silver continue to reinforce analysis that projected major, multi-year lows to take hold in late-2022 and lead to a multi-year advance. More and more, the evidence is mounting that this is demand driven and not an inverse reaction to Dollar movement:
The People’s Bank of China has been on a torrid buying binge for ~17 months – ever since long-term cycles projected a major, multi-year low for Gold in 4Q 2022. China’s reasoning involves diminishing its Dollar reserves and hedging against ongoing fiat currency devaluation. The Currency War continues!
The XAU & HUI surged into ~May 20th fulfilling related analysis for a rally into that time frame. The XAU was forecast to surge to at least ~148.00/XAU and likely to 150.50 – 152.00/XAU. The XAU topped at 152.02 as the May 20th high completed successive advances of equal duration (~80 days each).
That high created symmetry between multi-month peaks – fulfilling a ~5-month high (July 18 – 22) – high (Dec 18 – 22) – (high; May 18 – 22, 2024) Cycle Progression. It could trigger a drop back toward 131.00/XAU – the level of the previous (Dec ’23) high, April 22/23rd pullback low and both the weekly & monthly 21 High MACs.
If that support is tested in the first part of June, and holds, it should spur a new rally into July 1 – 5, 2024 – the next phase of a ~6-week low-high-high-high-(high) Cycle Progression in the XAU.
On a larger-scale basis, the XAU & HUI remain in multi-month uptrends that could ultimately extend into September ’24 before a 6 – 12-month peak would be most likely.
That would complete or fulfill multiple wave relationships, cycles and timing indicators while perpetuating a ~2-Year Cycle that has timed all of the multi-year swings since the major bottom in early-2016 – with each extreme occurring in the August/Sept time frame. That ~2-Year Cycle pinpointed the Aug ’16 high, Sept ’18 low, Aug ’20 high & Sept 2022 low – and could time another peak in Aug/Sept 2024.
Ultimately, this multi-month advance should at least make it to 157.50/XAU – where the rally from October ‘23 would equal the ~7-month rally from Sept ‘22 into April ‘23.”
Gold & Silver fulfilled their early-May buy signals, surging right to upside price targets and into intermediate cycle highs on May 17/20th. A multi-week top was projected and is triggering a sizeable decline that should bottom in June… before a new rally into July 2024 – when Gold is projected to set a decisive, multi-month peak. (Silver had greater synergy of cycles in May 2024, so a July ’24 peak could be a divergent/lower high than Gold.)
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 acting as the ‘Canary in the Coal Mine’ and has fulfilled projections to break out to the upside. However, an ongoing battle with the Dollar Index should intensify volatility in preparation for the biggest surprises in 2025 & 2026.
Gold & Silver Fulfill Projected Surges into May 17/20th; Initial Top Forming.
June ’24 Low Should Spur New Rally into July 2024 Peak!
40-Year Cycle (Projected) Impact on 2024/2025 Powerfully Reinforced.
“40-Year Cycle – Dollar Dominion, Dilemma & Demise”
“40-Year Cycle – Currency Wars & Cryptos”
“Solar, Seismic & Gold Intensity Cycles”
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.