Gold & Silver Poised for Quick Spike Low; Surge into July ‘24!
06-22-24 – Gold & Silver have retreated after surging into May 20th and setting multi-week highs. At the time, Gold set new all-time highs (fulfilling its weekly trend & reinforcing the attainment of its 3 – 6 month upside target) and created a new double top… as Silver spiked to new multi-year highs and right to a crucial upside target at 31.50 – 32.20/SIN.
They entered multi-week corrections and reached initial downside objectives in early-June, leaving open the possibility for additional downside. They could still see additional spike lows but Gold has held above its rising weekly 21 High MAC the past three weeks.
As long as Gold continues to do that, on a weekly close basis, it would remain likely to rally back to its high leading into July 2024. However, in accord with its weekly trend pattern, any imminent future high is not likely to close above the May ’24 peak…
On a near-term basis, Gold could spike below 2304/GCQ and fulfill a ~19-week low-low-low-(low; June 24 – 28, ’24) Cycle Progression in the coming week and then see a quick surge into July ’24. Geopolitical cycles could play a role…
Gold & Silver bounced to their declining daily 21 High MACs and fulfilled the potential for a late-week sell-off that could lead to a spike low in the coming days. They remain in daily downtrends, reinforcing the outlook for spikes to new intra-month lows. A subsequent quick rally could follow.”
Gold remains on course for a final surge into/in July 2024 – when it is projected to set a decisive, multi-month peak while retesting its recent high. (Silver had greater synergy of cycles in May 2024, so a July ’24 peak could be a divergent/lower high than Gold.) Gold’s weekly 21 High MAC continues to reinforce this outlook and should soon spur a multi-week rally.
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 portending an ongoing battle with the Dollar that should intensify in 2025 & 2026.
Gold Holding Weekly 21 High MAC Support; Final Surge Still Likely.
Gold Projects Retest of – and Peak Near – Recent Highs in July 2024!
How Does Weekly Trend Pinpoint Likely Level for July 2024 Gold Peak?.
“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.