Silver Cycles Peak in Early-Jan ’23; Gold, XAU & HUI Maintain Upside Potential.
01/03/23 Weekly Re-Lay Alert – “Gold & Silver remain strong and are fulfilling the overall outlook for a continued advance into late-Dec/early-Jan. – fulfilling a ~9.5 – 10-month high-high-high-(high) Cycle Progression and the latest phase of a ~6-week high-high-high-high-low-low-low-low-(high) Cycle Progression in Silver… that timed the early-Sept ’22 major low and subsequent Oct 14 and Nov 21 lows…
Gold has another weekly LHR near 1890/GCG, so a spike up to that level is possible by/on Jan 6. This week’s LHR is at 1891.1/GCG with 4 of the last 4 weekly LHRs at 1885.6 – 1895.7/GCG and 5 of the last 5 weekly LHRs at 1885.6 – 1903.9/GCG.
A surge to that range would have Gold attacking its early-June ’22 highs – the 4th wave of lesser degree resistance from Gold’s 2022 decline…
The XAU & HUI remain on track for overall advances up to (or above) 135 – 137/XAU & 250 – 260/HUI. The Dec ’22 Intra-month PLLRs (which become the Jan ’23 LLRs, so they are valid until Jan 31) are at 133.98/XAU & 256.70/HUI, reinforcing those targets.
Weekly LHRs (137.07/XAU & 261.98/HUI) as well as the XAU’s monthly 21 Low MARC & 21 High AMAC (136.22 – 138.99/XAU) concur.”
Silver has fulfilled projections for a multi-month advance to 24.50 – 25.00/SI into early-Jan ’23 when a multi-week or multi-month peak was/is likely. Gold is reinforcing its early-Nov ’22 buy signals and poised to rally above 1900/GC. It’s ~2-month lag (compared to Silver) should extend its advance in Jan/Feb ’23 and impact the overall outlook for 1Q ’23.
The XAU & HUI are corroborating this outlook and on track for surges above 135/XAU & 250/HUI. Platinum is showing similar signs of ongoing strength and should rally above 1100/PL stretching into Jan ’23.
Why Should Gold’s Current Rally Outlast Silver’s in 1Q ‘23?
How Could This Impact Future Cycle Highs (in 3Q ’23)?
What Should Follow Projected Silver Surge to ~24.50/SI & early-Jan ’23 Cycle High?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.