Gold & Silver (& XAU) Poised for Mid/Late-Aug ’23 Low.

08-12-23 – “Gold & Silver are entering a likely time for a multi-month low… Gold & Silver remain in multi-month consolidation phases between their late-Feb/early-March ’23 lows and the subsequent cycle highs set on May 3 – 5… Silver peaked in mid-July, fulfilling a ~3-month/~90-degree cycle from its mid-April & mid-Jan ’23 highs.  Those highs were preceded by lows in mid-Oct & mid-July ’22… and a high in mid-April ’22… a consistent string of ~3-month turning points.

The mid-July ’23 high fulfilled a ~3-month/~90-degree low-low-high-high-(high) Cycle Progression and projects another high in mid-Oct ’23 (possibly diverging & preceding early-Nov highs in Gold)…

In the midst of these cycle highs, Gold & Silver have corrected into the convergence of multiple cycle lows.  The most prominent is a consistent 22 – 23-week high-high-high-high-low-low-(low; Aug 14 – 25, ’23Cycle Progression in Gold that portends a multi-month bottom in the coming week(s).

That dovetails with the weekly HLS indicator in Silver, projecting a (minimum) 1 – 2 month low by or before Aug 18, ‘23.  That could take hold at any time and fulfill a ~7-week/~49-day high-low-(low) Cycle Progression in Silver.

The focus remains on the potential for a future, more significant peak in late-Oct/early-Nov ‘23 – the next phase of a consistent ~9.5-month cycle that timed the March ‘22 peak and then the early-Jan ‘23 peak.

It would also fulfill an over-arching ~19-month high-high-high-(high) Cycle Progression in Silver & complete a ~1-year/~360-degree advance in Gold.

The early-May ‘23 peak created a corroborating ~6-month/~180-degree low (early-Nov ‘22) – high (early-May ‘23) – high (early-Nov ‘23Cycle Progression.  As is often the case, a large part of the next advance could occur toward the end of that cycle.

(xxxx – xxxx ’23 is a prime time for an accelerated rally, due to key cycles and the weekly 21 MARC… Gold Silver remain in daily downtrends and turned their daily 21 MACs down to begin the week, at the same time Silver turned its intra-month trend down.  That is poised to extend selling into the coming week and allow Gold to spike a little below its late-June ’23 low and fulfill the weekly cycles & Cycle Progressions bottoming on Aug 14 – 25, ’23.

The XAU & HUI set divergent lows with the HUI spiking below its late-June/early-July low as the XAU bottomed above its corresponding low.  In doing so, the HUI has initially perpetuated its 22 – 23-week high (Nov 15-22, ’21) – high (Apr 18-25, ’22) – low (Sept 19-26, ‘22) – low (Feb 24-Mar 9, ’23) – (low; Aug 3 – 17, ’23Cycle Progression

Both indexes also remain in monthly uptrends, reinforcing the potential for a new multi-month rally in Sept/Oct ’23 (potentially beginning in the coming week).  The XAU has set up some pivotal resistance and initial upside targets at [reserved for subscribers]…

These factors continue to favor a new rally in the second half of August that could carry-over into the weeks and months that follow.”


Gold & Silver remain on track for an overall decline (from 3 – 6 month cycle highs in early-May ’23) into the next projected multi-month low – forecast to take hold in the second half of Aug ’23 (watch August 17 – 24), when a myriad of weekly & monthly cycle lows converge and usher in a unique period of time.

Geopolitical cycles argue for a related trigger event on ~Aug 22 – 24, ’23 (when Vladimir Putin is projected to ‘make a statement’ with some sort of action that alters the landscape moving forward and starts the clock ticking on a more significant event leading into future cycle 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!  The XAU & HUI are projected to set decisive lows surrounding mid-Aug ’23, ideally on Aug 17 – 21, ’23 – the recurrence of an uncanny 23-week high-high-high-low-low (Mar 6 – 10, ’23) – (low; Aug 14 – 21, ’23Cycle Progression that portends a multi-month bottom on Aug 14 – 21, ’23 (greatest synergy of cycles on Aug 17/18, ’23).

 

Where are Metals Likely to Bottom on August 17 – 24, ’23

Will Geopolitical ‘Statement’’ (Aug 22 – 24, ’23) Set Stage for Next Rally!

How Could Impending Gold/Silver Low (Aug 14 – 25, ‘23) Corroborate 2024/25 Outlook?

 

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.

 

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