Silver Projects Quick Rally; Focus Remains on ~Oct ’23 for Accelerated Advance.

08-21-23 – “Gold Silver remain in multi-month corrections from their cycle highs on May 3 – 5.  Those highs fulfilled ~3-month low-high-(high) & ~4-month low-low-high-(high) Cycle Progressions and were projected to usher in a corrective phase that would not set a final bottom until Aug 14 – 25, ’23 (now).

A secondary peak arrived in mid-July, fulfilling a ~3-month/~90-degree Silver 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 that preceded multi-week declines.

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.  In the midst of these cycle highs, Gold & Silver have corrected into the latest phase of a consistent 22 – 23-week high-high-high-high-low-low-(low; Aug 14 – 25, ’23Cycle Progression with Aug 17 – 22 representing the ideal time for a bottom…

Silver fulfilled that and projected a sharp rally from its mid-Aug ’23 low.  This recent decline fulfilled two critical indicators that also set the stage for a low…

  • The new lows fulfilled the minimum necessary for a ‘c’ wave decline (a-b-c correction from early-May ’23 cycle high) after both metals completed 5-wave advances from late-2022 into early-March ’23.
  • The new lows fulfilled the weekly downtrend patterns in both metals… During the rallies into mid-July, Gold failed to neutralize its weekly downtrend as Silver twice neutralized its weekly downtrend but failed to turn it up.  Both patterns argued for a drop back to the late-June ’23 lows.

These spike lows provided the minimum necessary to fulfill those indicators but do not automatically signal a multi-month bottom…

Looking ahead, 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 discussed the past couple months, the ideal time for an accelerated rally is [reserved for subscribers]…

For now, the intermediate trends remain down until daily closes above 1948.5/GCZ & 23.40/SIZ.”


Gold & Silver fulfilled the minimum downside targets for a multi-month decline into August 17 – 24… but the intermediate trends remain down  A myriad of weekly & monthly cycle lows are now converging and ushering in a unique period of time – in the markets and geopolitically from this point forward.

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) that could help support an initial 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 late-2023 – late-2024!  The XAU & HUI were also projected to set decisive lows on Aug 17 – 21, ’23 – which could be taking hold.

The next confirming/triggering action could occur in the weeks leading into late-Oct/early-Nov ’23 – when an accelerated advance is most likely based on the 90/10 Rule of Cycles and diverse indicators.

 

Where are Metals Likely to Rally to – in Oct/Nov ’23

Will Geopolitical ‘Statement’ (Aug 22 – 24, ’23) Help Spur Initial Rally!  What Could Follow??

How Could Potential 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.