Gold/Silver on Track for Overall Surges into 1Q ’23; Initial Targets Fulfilled.
12/21/22 Weekly Re-Lay – “Gold & Silver fulfilled the outlook for another rally into mid-Dec ‘22 and up to their primary upside targets – for these 1 – 2 month advances – at 1835 – 1845/GCG and ~24.50/SIH. That was projected to spur a brief pullback – which has since transpired – before a subsequent (likely) rally into late-Dec/early-Jan.
If it rallies into late-Dec, Gold would fulfill a 41 – 42-week high-high-high-(high) Cycle Progression. Silver is similar, expected to stretch its advance into Dec 30 – Jan 6, ’23 – the latest phase of a ~6-week high-high-high-high-low-low-low-low-(high) Cycle Progression that timed the early-Sept ’22 major low and subsequent Oct 14 and Nov 21 lows…
The XAU & HUI remain on track for overall advances up to (or above) 130 – 137/XAU & 245 – 251/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.
These indexes extended their corrections into mid-month, fulfilling their intra-month downtrends without turning their daily trends down. That paved the way for a Dec 19 low and reversal lower, which should spur higher prices into month-end.”
Gold & Silver are reinforcing the outlook for an overall advance into 1Q ’23 and have fulfilled the potential to surge to 1825/GC & 24.50 – 25.00/SI before the end of 2022. (That is projected to be the first multi-month rally as part of a larger, overall advance from major cycle lows in Sept & Nov ‘22.) Higher highs are expected in early-Jan ’23. Silver cycles portend a new rally into (at least) Jan 3 – 6, ’23. Gold is confirming a 3 – 6 month (or longer) bottom and could surge above 1900/GC into 1Q ’23.
Copper and Platinum are showing similar signs of developing strength and should rally into (at least) Jan ‘23.
What Does 2022 Test of 1825/GC & 24.50/SIH Mean for 2023?
Will Platinum AND Copper Continue to Surge with Silver into early-Jan ‘23?
What About Gold… and its Multi-Month Cycle Lows in Late-‘22?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.