Gold/Silver Diverging as Copper & Platinum Signal Multi-Month Lows.

01-04-25 – “Gold and Silver remain in corrective phases that began after they fulfilled multi-month cycle highs in late-October ’24 and entered what was/is likely to be a multi-month decline into a new 6 – 12-month bottom (in early-2025).

The late-Oct ’24 cycle highs included an uncanny ~12.5 month/~54-week high-high-low (Aug ’21) – low (Sept ’22) – low (Oct ’23) – (high; late-Oct 2024) Cycle Progression that was expected to usher in a 3 – 6 month top while – at the same time – projecting a future 3 – 6 month peak for October/November 2025.

During this corrective phase, Gold has neutralized its weekly uptrend multiple times but would not turn that trend down until a weekly close below 2565/GCG.  Silver turned its weekly trend down, reinforcing the likelihood for an overall decline into January ‘25.

On an intermediate basis, the early-Dec highs completed ‘b’ wave rallies and projected ‘c’ wave declines of an overriding ‘IV’ wave correction.

During the 5-wave advance from early-Oct ’23, Silver experienced two multi-month corrections – the wave ‘2’ & wave ‘4’ declines – that were close to equal… both ~11 weeks in duration.

The sell-off that preceded that entire 5-wave advance – the drop from May ’23 into early-Oct ’23 (perceived to be a higher magnitude ‘2’ or ‘II’ wave) – lasted 22 weeks… exactly what might be expected when superseding those other (lesser-magnitude) corrective waves.

If the late-October ’24 peak was a wave ‘III’ peak – as is the prevailing mindset – the current ‘a-b-c’ decline should be related to all the previous sell-offs.  At the very least, it should last ~11 weeks in duration – which would have it bottoming on Jan 6 – 10, ‘25…

The XAU & HUI extended their declines and attacked their August lows, the first level of 3 – 6 month support following their October 21/22nd highs that fulfilled upside price targets while perpetuating an ~18-week low-low-low-low-(high; Oct 21 – 25, 2024) Cycle Progression and fulfilling a myriad of other cycles…

Platinum & Palladium are rallying to begin the year with Platinum spiking down to its Feb ’24 low and then reversing higher, completing a weekly 2 Close Reversal higher. That initially validates crucial cycles that turn bullish in January 2025 but more confirmation is needed… beginning with daily closes above 970/PLJ & 965/PAH.

Platinum is reinforcing cycles and wave timing targets that converge in June/July 2025 and could time an important peak (after a strong advance).

Copper retested its early-August ’24 low (~4.000/HGH), finally fulfilling its weekly trend pattern and setting the stage for an initial low.  It would not show signs of reversing higher, however, until a daily close above 4.1550/HGH.”

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Gold, Silver & XAU are preparing for new rallies in 2025 with divergent action unfolding in December.  Gold remains in a positive weekly trend (Silver turned down), increasing the potential for a new advance in 2025 and a future peak in 4Q ’25 – as described in past months…

 

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