Gold/Silver Shift on Track; Gold, Silver & XAU/HUI Project Rally into Nov. 11 – 18
10/26/22 Weekly Re-Lay Alert – “Gold & Silver remain above their Sept ’22 lows with Silver setting a series of three successively higher lows since Sept 1 (even as Gold did the opposite). They are poised to enter another multi-week rally as a majority of cycles & indicators are still favoring that 1 – 2 month bottoms are in place.
A daily close above 1675.5/GCZ would turn the daily trend up in Gold and confirm a multi-week bottom. It has been bottoming since fulfilling a 66 – 69 day/~9.5 week high (3/08) – low (5/16) – low (7/21) – (low; Sept. 26 – 28) Cycle Progression in late-Sept ’22.
That cycle broke down into thirds, creating a 21 – 23 day/15 – 18 trading day low-high-low-low Cycle Sequence that was just perpetuated with the Oct 20/21 low… and next comes into play on Nov 11 – 16. A rally into Nov 10/11 would also match the duration of the July 21 – Aug 10 rally and arrive ~90 & ~60 degrees (~3 and ~2 months) from the Aug 10 & Sept 12 highs.
A daily close above 19.80/SIZ would reinforce Silver’s developing advance.
The XAU & HUI are rallying after retesting support (and the XAU’s range target near 95.00). They held above their mid-Oct lows, reinforcing the likelihood for an overall rally into Nov 7 – 18, ’22… when a future high is most likely. They turned their daily trends and then their daily 21 MACs up – reinforcing this outlook.
In the short-term, they are expected to see an initial surge to 117 – 120/XAU & 224 – 230/HUI.”
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?
Could Platinum Surge with Silver?
How Does Current Action Corroborate 2023 Outlook??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.