Gold & Silver Poised for Rallies in Late-Aug & Oct ’23 – Leading into Cycle Highs.
08-14-23 – “Gold & Silver remain in multi-month consolidation phases between their late-Feb/early-March ’23 lows and the subsequent cycle highs set on May 3 – 5. Those highs fulfilled ~3-month low-high-(high) & ~4-month low-low-high-(high) Cycle Progressions that could create a subsequent (intervening) high in early-Sept ’23.
That would perpetuate Silver’s ~4-month low-low-high-high-(high) Cycle Progression and connect the early-May & early-Sept ’22 lows with subsequent early-Jan, early-May & and the potential early-Sept ’23 highs. It would also fulfill a ~6-month low-low-(high) and related ~3-month low-low-(high) Cycle Progression.
Leading into this, Silver peaked in mid-July, fulfilling a ~3-month/~90-degree 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.
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 (possibly diverging & preceding early-Nov highs in Gold). Other highs could be seen in the interim, with early-Sept ’23 representing the approximate midpoint of that ~3-month cycle.
In the midst of these cycle highs, Gold & Silver have corrected into the convergence of multiple cycle lows. The most prominent is a consistent 22 – 23-week high-high-high-high-low-low-(
In the case of Gold, that also represents a precise 50% retracement – in time – of its Sept ’22 – May ’23 rally and/or a .618 time retracement of its Nov – Mar ’23 rally (Sept & Nov ’22 lows created a double bottom, so either low can be used for this measurement)…
The focus remains on the potential for a future, more significant 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 is often the case, a large part of the next advance could occur toward the end of that cycle.”
Gold & Silver remain below their May 3 – 5, ’23 cycle highs – projecting future highs for early-Sept & early-Nov ‘23. Strong rallies could be seen leading into each of those cycle peaks with the sharpest rally likely occurring in October ’23 – leading into the early-Nov ’23 multi-month cycle highs.
Geopolitical cycles argue for a related trigger event on ~Aug 22 – 24, ’23 (when Vladimir Putin is projected to ‘make a statement’ with some sort of action that alters the landscape moving forward and starts the clock ticking on a more significant event leading into future cycle highs).
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 late-2023 – late-2024! The XAU & HUI are projected to set decisive lows surrounding mid-Aug ’23, ideally on Aug 17 – 21, ’23 – the recurrence of an uncanny 23-week high-high-high-low-low (Mar 6 – 10, ’23) – (low; Aug 14 – 21, ’23) Cycle Progression that portends a multi-month bottom on Aug 14 – 21, ’23 (greatest synergy of cycles on Aug 17/18, ’23).
The next confirming/ triggering action could occur in the weeks leading into late-Oct/early-Nov ’23 – when an accelerated advance is most likely based on the 90/10 Rule of Cycles and diverse indicators.
Where are Metals Likely to Bottom on August 17 – 24, ’23?
Will Geopolitical ‘Statement’’ (Aug 22 – 24, ’23) Set Stage for Next Rally!
How Could Impending Gold/Silver Low (Aug 14 – 25, ‘23) Corroborate 2024/25 Outlook?
Refer to the April 11, 2023 special issue of The Bridge – Gold, Silver and Elliott Wave Structure – and subsequent reports – for expanded analysis and charts.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.