The Danger Zone - Part V: Gold Projected Surge & Cycles in July 2024.
?
06/28/24 - Gold & Silver have corrected since mid-May after fulfilling everything that was expected from a March/April ‘24 surge and then fulfilling key upside targets while rallying into multi-week cycles highs on May 17/20.?
At the time, Gold set new all-time highs (reinforcing the April ’24 attainment of its 3 - 6 month upside target) and created a double top… as Silver spiked to new multi-year highs and right to a crucial upside target at 31.50 - 32.20/SIN.?
On a monthly-chart basis, Gold & Silver maintain the potential for a retest of those highs - or a spike to higher highs - during the month of July 2024.?
That is based on a host of corroborating monthly cycles
In addition, it would fulfill the ongoing parallel(s) to the 2016 - 2020 bull markets that have unfolded since late-2022.? In both bull markets, Gold first rallied for 7 - 8 months and then sold off for ~5 months, retracing 70 - 75% of the initial rallies.
In 2016/2017, Gold subsequently rallied for ~9 months? - into Sept 2017 - before setting a 1 - 2 year peak.?
In 2023/2024, Gold was/is forecast to do something similar and rally into the month of July ‘24 - a ~9-month advance from its Oct. ‘23 low.
While that is not as specific as other cycles or timing indicators, it is an ongoing parallel that continues to be monitored (and keeps gaining credibility).
On an intermediate basis
That would also stretch Silver to the extreme of multiple cycles… The most recent phases of that 30 - 31-week cycle have been, similar to Gold, 31 weeks in duration so Silver could also stretch a peak into July 8 - 12, 2024.
The more important factor - from all of these cycles - is that a peak occurs at some point during the month of July 2024.? That is what has been projected since the March 2022 peak and since the ensuing May 2023 peak.? It has also been the focus since the October 2023 low.
That would fulfill a ~28-month low-low-high-(high; July 2024) Cycle Progression.?
Even more convincing, that would fulfill a ~14-month low-low-low-low-high-high-high-(high; July 2024) Cycle Progression.?
Both of these have been repeatedly discussed and illustrated and are now close to reaching fruition.
On a broader basis, Gold & Silver continue to reinforce analysis that projected major, multi-year lows to take hold in late-2022 and lead to a multi-year advance
The largest of those monthly cycles - the ~28-month Cycle - projects a future peak for 4Q 2026.? That is when a corresponding ~4-Year low (Aug 2018) - low (Sept 2022) - (high; 4Q 2026) reaches fruition.?
An intervening peak could/should be seen at the 14-month midpoint in ~Sept/Oct 2025.?
The reason for mentioning that is [reserved for INSIIDE Track subscribers]
The bottom line is that July 2024 remains a pivotal & decisive time for Gold (and Silver) and remains likely to time a final surge and spike high before a broader corrective phase. It also shows that the first half of July 2024 could produce some sort of surprise event! ????- June 28, 2024 (July 2024 INSIIDE Track)
?
?
The Golden Canary
INSIIDE Track has described many times how the more extreme moves in Gold - often at the tail-end of a significant cycle - are often a harbinger of a geopolitical surprise.?
A perfect example occurred as Gold cycles were bottoming in late-September/early-October 2023 and projecting a major advance
?
?
Gold & Silver triggered multiple bullish signals as validation to that outlook:
领英推荐
?
As Gold was fulfilling its projected surge into early-December 2023, it was already ‘casting shadows ahead’ with cycles projecting intensifying trouble in 2024…
?
A New Currency War
In mid-February 2024, Gold was honing that outlook with both Gold & Silver triggering multi-month buy signals while projecting initial surges into April 19th and overall advances into May and then July 2024.?
That would powerfully confirm the onset of a new multi-year/multi-decade Currency War…
https://40yearcycle.com/uncategorized/gold-poised-for-march-2024-surge-new-currency-war-is-underway/
?
The Crypto Factor
At the same time, Bitcoin cycles were projecting a final surge into mid-March 2024 - when a 3 - 6 month peak was forecast to take hold.? In order to validate that outlook - Bitcoin needed to spike above 70,000 as it was rallying into March 10 - 14, 2024 - the week with the greatest concentration and synergy of cycles - all portending a decisive peak in cryptocurrency…
?
The 17-Year Cycle
The 17-Year Cycle was overriding much of this, reinforcing the outlook for Gold to surge into July 2024 and to ultimately have a significant impact
?
The period from early-October 2023 into July 2024 was expected to powerfully confirm multi-year cycles that had bottomed in late-2022 and projected a multi-year bull market.? It was not just cycles (it never is) but instead the corroborating influence of many longer-term indicators and wave analysis - anticipating a breakout rally
?
BOTTOM LINE:? GOLD & SILVER ARE PROJECTING A SHARP RALLY BEGINNING ON JULY 1ST - 5TH… with upside targets already in focus.
?
In cases like this, particularly at the culmination of a broader cycle, projections like that are often fulfilled with some sort of surprise event - inside or outside of the markets!? That is another reason why stocks should see a second round of selling in July - potentially bottoming around July 17 - 19, 2024.
?
Other reasons for this outlook, which are already included in Weekly Re-Lay publications, will be addressed in future installments of this series and/or can be viewed in previous installments...
?
?
Specific analysis, targets, cycles & projections will continue to be published in related Weekly Re-Lay & INSIIDE Track publications.
?
TRADING INVOLVES SUBSTANTIAL RISK!
More information can be found at www.insiidetracktrading.com.
?
founder | integrated jewelry ecosystem | jewelry manufacturing | diamonds trading | services
8 个月Thank you for the article! ?? Today I also read a great addition to your article on Four 9’s Cluster.us about how the rising gold price affects jewellers. I also advise you to check out!