Gold & XAU Enter Pivotal Time… Is Gold Low Imminent? Watch Weekly Trend!
11-16-24 – “Gold & Silver are selling off after fulfilling late-October cycle highs. An intermediate low could take hold this week…
The Dollar Index has surged higher on the back of rising interest rates after fulfilling the outlook for a multi-week bottom on Sept 27/30. That low fulfilled a major, ~3.25-Year (38 – 41-month) low-low cycle and a more precise ~40-month low (Jan ’18) – low (May ’21) – (low; Sept 2024) Cycle Progression… reinforcing the outlook for a 4Q ‘24 rally in the Dollar Index.
That low should hold for at least 2 – 3 months and more likely 3 – 6 months…
Gold & Silver are reinforcing signs of multi-month tops after attacking critical upside targets in late-October – the projected time for a multi-month peak.
Silver peaked on October 22nd – along with related cycles in the XAU Index – while Gold waited another week to fulfill its own cycles.
Its late-October ’24 peak fulfilled the latest phase of an ongoing ~1-year/~12.5-month high-high-low (Aug ’21) – low (Sept ’22) – low (Oct ’23) – (high; late-Oct 2024) Cycle Progression… that projects a future peak for Oct/Nov 2025.
The related ~54-week cycle and 27-week low-high-(high) Cycle Progressions peaked on October 28th – when both set their highest weekly closes. Gold stretched its intraday/intra-week high into October 30th, fulfilling a ~5-week/34 – 37-day low-high-high-high-(high; Oct 30) Cycle Progression and ushering in a reactive period.
Silver is entering the third week after testing and holding its weekly HLS… while Gold is entering the second week of a similar setup. That indicator usually generates a 1 – 2 month low in the ensuing 2 – 3 weeks. A low on Nov 11 – 18th would perpetuate a ~14-week low-low-low-(low) Cycle Progression.
A slightly broader 14 – 15 week cycle, that has timed 7 consecutive multi-month lows, could stretch that low as late as Nov 22nd and create the 8th successive low in that sequence…
Gold has twice neutralized its weekly uptrend but would not turn that trend down until a weekly close below 2541/GCZ. (Silver has only triggered one neutral signal.)
As a result, a bullish scenario would be seen if Gold [reserved for subscribers] preserving the weekly uptrend.
Metals continue to reinforce analysis that projected major, multi-year lows to take hold in late-2022 and lead to a multi-year advance. Ultimately, these trends could spur higher prices into 2027/2028 – when major cycles converge.
If Gold & Silver bottom before the end of 2024 (potentially before the end of November), they would likely be completing a larger-magnitude wave ‘4’ (or ‘IV’) of the overall advance from the late-2022 low.
That would pave the way for a wave ‘5’/’V’ advance into (at least) Oct/Nov 2025…
The XAU & HUI have dropped sharply after fulfilling upside projections in price and time as the XAU surged into a synergistic convergence of geometric cycle highs on October 21/22nd and topped while fulfilling an ~18-week low-low-low-low-(high; Oct 21 – 25, 2024 Cycle Progression.
It also fulfilled a ~4-month low (Feb 13) – low (June 17) – (high; October 21/22, 2024) and ~2-month low (Feb 13) – low (April 16) – low (June 17) – high (Aug 20) – (high; October 21/22, 2024) Cycle Progression… and a ~3-month high (Jan 12) – high (April 12) – high (July 16/17) – (high; October 16 – 22, 2024) Cycle Progression.
Since setting those peaks, they have been targeting a plunge back to their early-August ’24 lows. That dovetails with the monthly HLS (extreme downside target for Nov ’24) at 135.63/ XAU and the past week’s HLS at 136.66/XAU. 135.32/XAU is weekly 21 MARC support.
Similar to Gold, the XAU has twice neutralized its weekly uptrend but would not turn that trend down until a weekly close below 142.35/XAU.”
Gold, Silver & XAU have sold off after fulfilling ongoing projections for a surge into late-October ’24. Gold & the XAU are entering a decisive time, based on their weekly trend patterns. That could produce a multi-month Gold low before the end of 2024… potentially before the end of November. The XAU portends a drop below 136.00/XAU – where multi-month support aligns – before the next advance becomes more likely.
The 40-Year Cycle of Currency War continues to impact Gold and its relationship to the US Dollar. Gold fulfilled major cycles in Sept/Oct 2022 when it perpetuated a 7-Year Cycle of consistent lows (2001 – 2008 – 2015 – 2022) that coincided with the onset of a new 40-Year Cycle of Currency War AND 80-Year Cycle of War and projected a multi-year bull market to follow…
Outlook 2022/23: A New Currency War Begins
Outlook 2023: A New Currency War & Inflation
40-Year Cycle – Dollar Dominion, Dilemma & Demise
Late-2023 was projected to reaffirm this analysis when Middle East War Cycles were projected to reignite (in October 2023… exactly when war broke out)…
Middle East War Cycles Collide in Late-2023
Gold & Silver (& US Dollar) fulfilled the latest phases of their 2022 – 2027 outlooks with the Dollar bottoming in late-Sept and metals surging into late-Oct ’24… reinforcing analysis for a series of future Gold peaks projected for 2025 & 2026. The late-October high reinforces future Gold cycle highs in early-Feb, early-May & early-Nov ‘25.
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