Gold/Silver Project Surges from Late-June into Sept. ’20; Silver Poised to Out-Gain Gold!
05/29/20 INSIIDE Track: “Gold & Silver have swung wildly between decisive cycles, peaking in late-Feb./early-March and then diving into mid-March ‘20 – when Silver and the XAU possessed an overwhelming convergence of powerful cycle lows.
At the same time, Gold plunged precisely to its downside target at 1450.0/GC. That was the ‘4th wave of lesser degree’ (the 4th wave low of the 5-wave advance from Sept. ‘18 into March ‘20) and the level that needed to be tested before Gold’s multi-year advance could resume.
Gold subsequently surged to new highs, leading into mid-April ‘20 – fulfilling the outlook for a series of accelerating and ascending highs in 2020 as a sequence of ‘5th waves’ unfold and set sequential peaks. In doing so, Gold provided dual fulfillment to the longer-term cycles discussed for several years (one of which is illustrated above)…
That April ‘20 peak has held for six weeks but has not produced any confirmed signs of an intermediate reversal lower. It would not do so until a daily and weekly close below 1680/GCQ… That pair of peaks in March/April ‘20 perpetuates that 54 – 59 week/12.5 – 13.5 month cycle and reinforces the focus on April/May 2021 for a major peak – perhaps the final peak of this advance from late-2015 (confirmation needed).
Silver is beginning to come back to life, confirming the outlook for an inflationary burst during the final 6 – 12 months of this bull market in precious metals.
It bottomed in mid-March ‘20 – perpetuating a series of cycles that has governed Silver for several years. March 16 – 20, 2020 fulfilled a 70-week low (July 10 – 14, ’17) – low (Nov. 12 – 16, ’18) – low Cycle Progressionand a 14-week low-high-low-high-low-(low) Cycle Sequence.
Mar. 16 – 20, ‘20 was the midpoint of the 28-week low-low-low-(low) Cycle Progression that helped pinpoint the Dec. 9 – 13, ‘19 low and fulfilled an overlapping 28-week high (Feb. ’19) – high (Sept. ’19) – low Cycle Progression. It also fulfilled a 7-week high-high-low-(low) Cycle Progression.
More importantly, it fulfilled an overall 51-month high (Sept. ‘11) – low (Dec. ‘15) – (low; Mar. ‘20) Cycle Progression in the overall precious metals markets. That is what ushered in this period during which Silver will likely outpace Gold to the upside.
A subsequent low is expected during the next phase of the 7-week cycle (after Gold & Silver fulfilled intervening cycle lows on May 4 – 8) – on June 22 – 26. That is also the next phase of a related 14-week high-low-low-low Cycle Progression AND 28-week low-low-low-low Cycle Progression.
Based on the action in May, all the metals are now expected to set higher lows in late-June. That would then turn the focus to the next phase of Gold’s 27 – 29 week cycle – a peak in Sept. ’20.
The XAU has surged to new highs and nearly made it to its primary 2 – 3 year upside objective (triggered in 2018) at 135 – 140. It resumed its multi-year advance after plunging to its monthly HLS (extreme downside target) and spiking down to 6 – 12 month support in sync with weekly & monthly cycle lows in mid-March.
Since then, it has rallied in a 5-wave sequence, likely completing the 5th wave (that began on May 1) in mid-May while perpetuating a ~60-degree cycle. It has spiked above 130/XAU, nearing monthly resistance and a pair of wave objectives.
That came in the month after the XAU surged right to its monthly LHR (in April), fulfilling that indicator which portends a multi-month peak in the ensuing 1 – 2 months. A decline into late-June is expected and could be followed by a rally into mid-to-late-July (part of an overall advance that could still last into May 2021).
Platinum rallied sharply after plunging to its lowest level since 2003 (17-Year Cycle?) while fulfilling a ~4-year cycle that bottomed in 1Q ’20. The March ’20 low fulfilled a ~4-year high (1Q ’04) – high (1Q ’08) – low/high (Dec. ’11 – Feb. ’12) – low (1Q ’16) – low (1Q ’20) Cycle Progression while Platinum was attacking its 5 – 10 year HHL target (~1900 – ~1200 – ~500/PL).
Platinum then surged into late-May, fulfilling the latest phase of the ~18-week (17 – 19 week) low-low-low-low-high-high-high-(high) Cycle Progression that previously pinpointed the Jan. ‘20 peak and led to the late-Jan. sell signal in Platinum. As a result, it will likely consolidate in June & July – potentially dropping into late-June with other metals.
Palladium has consolidated since its late-March rebound peak. It began the year by peaking in Feb. ‘20, fulfilling the outlook for a major cycle peak in 1Q ‘20. It then plunged into mid-March, when pivotal cycles in so many metals bottomed, losing 50% of its value in less than three weeks. As a result, it will likely remain in that late-Feb. – mid-March trading range for several months.”
Gold, Silver & XAU Index (Gold/Silver Index) poised for intermediate tops in late-May/early-June. Prepare for most bullish cycles to kick in by late-June (while reaffirming multi-month cycle lows that precisely timed Gold & Silver’s bottom on March 16 – 20). That is projected to spur new advances into late-2020 and likely into May 2021 with Silver gains likely exceeding Gold gains during that period, as Silver & metals stocks forecast to track closer with (bullish) overall stock market.
Why is 3Q ’20 Poised to Witness Sharpest Rallies of 2020?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.