Gold & Silver, XAU, Platinum & Palladium Poised For Multi-Month Lows!
06-27-26 – “Gold & Silver dropped to new lows after failing to turn their respective 1 – 2-week trends up – leaving the intermediate trend down. Both metals remain below their declining weekly 21 Low MACs, with Silver bouncing right to that critical resistance level before its latest decline…
That aligns with cycle analysis – portending a decline into early-July – the fulfillment of both an ~11-week high-high-(low; July 2 – 10, ’26) Cycle Progression and a .618 retracement in time (37 weeks up & 23 weeks down – into July 6 – 10, ’26).
A drop into early-July ’26 would fulfill related cycles in Silver, including a trio of similar timed waves that comprise the entire ‘A-B-C’ decline.
The ‘A’ wave was 53 days and the ‘B’ wave was 51 days. The ‘C’ wave would match the duration of those previous waves on July 2/6, ’26.
(July 2/6, ’26 is also when Gold would fulfill a 77 – 78-day high-high-high-low Cycle Progression.)
A Silver low in late-June/early-July ’26 would also complete a 50% retracement in time and fulfill a ~9-week/63 – 64-week low-low-(low) Cycle Progression.
In the past week, Gold & Silver spiked below their respective weekly HLS levels (extreme weekly downside targets) with Gold rallying back to close above that level & above its most recent low on the weekly close. That also portends a 1 – 2-month low in the coming week(s).
More importantly, that had Gold again holding its Oct ’25 low – the 4th wave of lesser degree support on a 1 – 2-year basis. (However, 3913/GC is that level on a continuous-contract basis.)
That reinforces the overall wave analysis that the current decline (since mid-April ’26) is still a corrective one that is likely a ‘C’ wave, even though it has extended farther than expected.
A spike low in July ’26 would also reinforce the outlook for the next significant peak to occur in Oct ’26 – fulfilling a ~4-year low (4Q ’14) – low (Aug/Sept ’18) – low (Sept/Oct ’22) – (high; Sept – Nov ’26) Cycle Progression as well as a ~1-year/~360-degree low (Oct ’23) – high (Oct ’24) – high (Oct ’25) – (high; Oct ’26) Cycle Progression.
A low in July ’26 would occur 6 months from the Jan ’26 peak and then allow for a ~3-month rally (50% time rebound of ~6-month decline) into those same Cycle Progressions in Oct ‘26…
The XAU & HUI declined from mid-May cycle highs into mid-June, spiking below their late-March ’26 lows and fulfilling their weekly trend patterns. That also fulfilled initial downside price projections and set the stage for a multi-week – and potential multi-month – low to take hold in the weeks that followed.
It also (initially) fulfilled the outside-month/2 Close Reversal lower the XAU generated in March ’26 (triggered by its outside-week/2 Close Reversal lower on March 6, ’26).
This overall ‘a-b-c’ decline still appears to be the wave ‘IV’ of a potential 5-wave sequence that began with the Sept ’22 low. The 4th wave of lesser degree (wave 4 of III) support remains at the Nov ’25 low and is still pivotal support.
These indexes – and the majority of related mining shares traced out a bearish weekly 21 MAC reversal sequence since March ’26 and could spur a final spike low in the near term.
The XAU Index could still make it down to 270 – 280.0, likely extending its decline into early-July ’26. (The monthly 21 High MAC should be around 295.0/XAU in July ’26 and would be the first critical support level at that time.)
Platinum & Palladium remain in 3 – 6-month declines as Palladium attacks its rising monthly 21 Low MAC (and is poised to neutralize its monthly uptrend for the second time) at the same time Platinum attacks its rising monthly 21 High MAC. If those levels hold on the monthly close, it would set the stage for a new multi-month rally.”
Gold & Silver (as well as other metals & related indexes) are fulfilling ongoing analysis for a multi-month correction that should bottom at or above their Oct/Nov ’25 lows. This is still perceived to be an ‘A-B-C’ correction, with the terminal ‘C’ wave nearing fruition. Late-June/early-July ’26 is the ideal time for a spike low and the start of a multi-week bottoming process. Late-July/early-August ’26 is shaping up as the most likely time for a new surge to take hold.
All of this remains in the context of the unfolding scenarios projected for 2022 – 2028/2029, with Gold & Silver nearing a transition into the next phase of their over-riding outlook. If they bottom in late-June/early-July ’26, that would powerfully corroborate projections for 3Q & 4Q 2026… as well as analysis for 2026 – 2029! Analysis for the US Dollar & Forex, Interest Rates, Stock Indexes and Bitcoin/cryptos concurs.
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