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-(
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 ‘23) Cycle 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, ’23) Cycle 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, ’23) Cycle 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.