Gold, Silver & XAU Poised for Acceleration Higher into Mid-April 2024.

03-23-24 – Gold & Silver remain bullish and could see further acceleration … Gold & Silver are consolidating after surging above 2150 – 2170/GCJ (Dec ’23 highs) and attacking initial targets near 2210 – 2220/GCJ.  That breakout level (2150 – 2170/GC) is now support.

Based on multiple wave objectives (rally from Oct ’23 low = Oct ’22 – May ’23 rally; rally from Feb ’24 low = Oct – Dec ’23 rally, etc.), Gold is still likely to see a surge to ~2300/GCJ (~2320/GCM) as part of its latest primary advance – an advance that could extend into mid-April 2024.

Gold & Silver Projecting Accelerated Surges into April 2024; Middle East Cycles Collide!

The latest two week’s LHRs are 2294 & 2302/GCJ, reinforcing that potential.  Monday’s low corroborated that, producing an Intermediate LLH objective at 2302/GCJ (1996 – 2149 – 2302/GCJ).

That is also where a pair of long-term wave targets converge and the latest range-trading target after Gold’s break about 2150/GC.  Silver has related range-trading targets at ~26.75 & ~28.25/SIK.  After surging to new intra-year highs, Silver just pulled back to its rising daily AND weekly 21 High MAC – the ideal setup for a new rally.

1 – 3 month & 3 – 6 month traders and investors could have entered/added to long positions in Gold & Silver at averages of 2025/GCJ & 23.00/SIK and can now risk daily closes below 2149/GCJ & 24.58/SIK.  Exit 1/2 of Gold positions if/when [reserved for subscribers]… 

The XAU & HUI surged in line with their monthly 21 MACs & 21 MARCs.  The action of the past 5 weeks has been similar to the weeks leading into and beyond early-March 2023, when the XAU embarked on a 5-week surge.

In both cases, the XAU suffered a final sharp sell-off for ~2 weeks, bounced, then retested that low ~2 weeks later.  In 2023, that led to an overall advance of ~35.00/XAU points over a ~5-week period.

2024 was projected to see something similar.

That could spur a surge above 137.00/XAU – leading into April 1 – 5th (7 weeks from the initial low and 5 weeks from the retest low).  On a near-term basis, the XAU is reinforcing that – showing the potential for a surge that could spike as high as 134 – 138.00… and powerfully confirm the buy signal triggered at 106.00 down to 102.60/XAU.

That is where extreme upside targets exist in the coming week(s) and is where the monthly 21 High MARC exists in March 2024.  The latest three weekly LHRs are at 131.52 – 134.52/XAU.

1 – 3 month traders & investors could have entered long positions in related instruments (ETFs, stocks, etc.) when the XAU was at 106.00 down to 102.60 in late-February. Risk/exit on a daily close below 115.40/XAU.  Exit 1/2 of these positions if/when 134.00/XAU is hit.  FUTURES TRADING INVOLVES SUBSTANTIAL RISK!

Platinum & Palladium initially rallied but Platinum needs a daily & weekly close above 1021/PLN to confirm a multi-month bottom and to project a higher magnitude advance that could last into June 2024.  That is also near or above the monthly 21 High MAC and MARC, so it is a pivotal & decisive level.”

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Gold & Silver are fulfilling their mid-February buy signals – projecting acceleration higher in March/April 2024 and an initial peak likely on April 12 – 19, 2024.  The current advance is projected to take Gold above 2300/GCJ with Silver projected to attack ~27.30 and then 28.00+/SIK… as the XAU surges to/above 137.00 into April 2024.  Secondary (higher) targets could be reached by/in mid-April 2024.

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 2024!  Gold is acting as the ‘Canary in the Coal Mine’ and has fulfilled projections to break out to the upside in March 2024!

Related cycles reinforce the likelihood for intensification of Middle East War Cycles in 2024 – with a new escalation of Iran vs Israel conflict likely to spur gains in Gold & Silver.  Watch March 20 into April 19/20 as the most likely time for escalation of tensions in the Middle East. (The March 2024 INSIIDE Track recently elaborated.)

A 180-degree move from the October 7, 2023 attack on Israel arrives in early-April ’23… a cyclically likely time for a new attack of some form… and acceleration higher in precious metals.

 

What Will Gold Surge Portend for Other Markets??

 

40-Year Cycle – Dollar Dominion Dilemma & Demise

40-Year Cycle – Currency Wars & Cryptos

Solar, Seismic & Gold Intensity Cycles

 

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