Gold/Silver Shift; Dropping into Mid-Oct Cycle. Silver Advance Intact.

10/12/22 Weekly Re-Lay Alert – “Gold & Silver are steadily confirming signs of a larger scale advance but have delayed the time for its completion with Silver correcting farther (lower) than its more bullish scenario anticipated.  Gold & Silver declined back to their month-opening lows (with Silver closing slightly below that) but have not neutralized their prevailing daily uptrends.

Coinciding with this, they both dropped back to their daily 21 Low MACs with Gold testing and holding that average on three consecutive days.  Gold’s inversely correlated daily 21 MARC has just begun a 4-day plunge as part of a larger 12-day (trading days) drop.  By early next week, Gold would only need to rally above 1690/GCZ to turn the direction of its daily 21 High MAC up for the first time since late-Aug.

(It would have to rally above 1717.3/GCZ on Oct 13 or 1707.8/GCZ on Oct 14 to accomplish this same feat.)

Silver remains likely to reach (at least) ~22.50/SIZ before a peak takes hold, but is showing that this is unlikely to occur within the most bullish time frame.”

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Silver is steadily validating what has been discussed throughout this year – that Sept ’22 would usher in the time when Silver begins to overtake Gold (shift in Gold/Silver ratio) and sees stronger rallies due to multiple factors.  Silver’s initial intermediate advance is projected to take it up to 22.50/SIZ with the potential to surge as high as 24.50 – 25.00/SI before the end of 2022.  Platinum is showing similar signs of developing strength and should rally into/through November.

What Does (Potential) Shift of Gold/Silver Ratio Portend?

How Does Current Action Corroborate 2023 Outlook??

 

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