Gold & Silver Project Early-Sept ’23 & Early-Nov ‘23 Peaks (90/10 Rule of Cycles?).
08-07-23 – “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 high in early-Sept ’23.
While Gold did not fulfill the latest phase of its ~3-month Cycle Progression – setting a multi-week peak a week early – Silver (and probably Gold) could easily rally into early-Sept and perpetuate the ~4-month low-low-high-high-(high) Cycle Progression that also recurred in early-May ’23.
That would connect the early-May & early-Sept ’22 lows with the subsequent early-Jan, early-May & and potential early-Sept ’23 highs. It would also fulfill a ~6-month low-low-(high) and related ~3-month low-low-(high) Cycle Progression…
The focus remains on the potential for a 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.
Weekly cycles and indicators are reinforcing that and beginning to hone when an accelerated rally is more likely.
The XAU & HUI reentered negative territory after fulfilling intra-month analysis for July rallies to ~130 – 133/XAU & 254 – 257/HUI. During the recent rebound, they neutralized their weekly downtrends multiple times but could not turn them up.”
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).
All of this 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 the coming months and years! 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.