Gold, Silver & XAU Buy Signals Project March 2024 Surges!
02-28-24 – “In late-2022, the US Dollar Index set a multi-year peak while the pair of ‘anti-Dollar’ antagonists – Bitcoin & Gold (digital & hard currency) – set multi-year lows. As described back then, this ushered in the next phase of the 40-Year Cycle of Currency Wars and should trigger major advances in cryptos and Gold – from 4Q 2022 into 4Q 2025 – and a corresponding decline in the US Dollar.
The previous phase – of that 40-Year Cycle – had culminated in 2016 – 2021, when Gold and related anti-Dollar ‘currency’ were projected to undergo an initial 4 – 5 year advance.
That would be the perfect ‘bookend’ to a 40-Year Cycle that began in 1976 – 1981 with the global monetary order’s official divorce decree from Gold (AKA the Jamaica Accord in 1976) and the resulting plunge in the US Dollar versus Gold – as Gold surged from ~100 to over 850/GC between August 1976 & January 1980.
2016 – 2020/21 was forecast to see a new surge in Gold, but nothing close to the magnitude of the 1976 – 1980 advance. It was merely the first phase of a larger overall advance in Gold. The second phase has been forecast to unfold during the opening years of this new 40-Year Cycle (2022 – 2025… and potentially longer)…
9-08-22 – “September 2022 could time a critical shift in the overall ‘Currency War Cycle’. While that does not necessarily imply it will mark an extreme high or low in any specific combatant (in this ‘war’), it could trigger some surprise counter-trend moves that begin to reshape perspectives.
One important factor, that could help trigger an intermediate shift, involves the US Dollar Index. It signaled a multi-year bottom in 1Q ‘21 and has been on track to surge above 110.0/DX ever since. It just reached that upside target…” – September 8, 2022 The Bridge – Crypto Currency War Divergence
Bitcoin fulfilled those downside objectives – in time and price – and was forecast to enter a new multi-year bull market. Gold & Silver also bottomed – in September – November 2022 – and were also projected to enter new multi-year advances (see page 2 for ‘correlation’).
At the same time, the Dollar Index attacked its ultimate, multi-year upside target (~113.00/DX) and completed a textbook 5-wave advance from its 2008 bottom. A top was forming! A new 40-Year Cycle of Currency Wars was set to begin… with a bang.
Gold & Silver remain in wide corrective patterns with Silver holding intra-year trend support for over a month as Gold begins to rally after completing a larger-magnitude ‘a-b-c’ correction from the early-Dec ’23 spike high. A daily close above 2060.0/GCJ is needed to trigger a new advance.
That would reinforce the outlook for a new rally as Gold remains in the upper extremes of its 1 – 2 year uptrend, 3 – 5 year trading range and 8 – 10 year uptrend on the verge of an upside breakout in 2024.
Silver would not show new strength until a daily close above 23.45/SIK. It has twice neutralized its weekly downtrend and needs a weekly close above 23.76/SIK to reverse that trend up & confirm a multi-month bottom. That would also generate a range-trading signal in which Silver has traded in ~1.50/SIK ranges the past 3 – 4 months (~22.25 – ~23.75 – ~25.25 – ~26.75/SIK).
1 – 3 month & 3 – 6 month traders and investors can be entering/adding to long positions in Gold & Silver at 2000 – 2030/GCJ & 22.50 – 23.50/SIK… TRADING INVOLVES SUBSTANTIAL RISK!
The XAU & HUI would not turn positive until daily closes above 109.00/XAU & 210.50/HUI. The monthly 21 MACs & 21 MARCs turn more favorable in March/ April 2024 so a new 2 – 3 month rally could begin soon.
1 – 3 month traders & investors can now enter long positions in related instruments (ETFs, stocks, etc.) and risk/exit on a weekly close below 102.30/XAU. TRADING INVOLVES SUBSTANTIAL RISK!”
Gold & Silver are confirming their mid-February ’24 lows – set during the ideal time and place for a low to take hold and a new advance begin… that should accelerate higher in March 2024. An overall (intermediate) advance is projected from the mid-February cycle lows into late-March 2024 and up to key price targets (with Gold surging to new all-time 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! This should have a dramatic impact on the US Dollar in 2024/2025. March 2024 should provide the next corroboration to that outlook. Gold is acting as the ‘Canary in the Coal Mine’ and is poised to break out to the upside in March 2024!
How Does Gold Outlook Portend Related Shocks in Other Key Markets??
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 as well as discussion on why, how & when Gold is most likely to break out to the upside (in 2024) following a multi-year ‘flat correction’.
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Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.