Thursday , 25 July 2024

The Low Is In! Gold, Silver & Miners Are Now Primed to Rise Through August Into September

The low of $1,310.70 in gold last week appears to have marked the cycle bottom. With the Fedgold rise meeting behind us, gold prices are primed to rise through August – and likely into September, where they will form the next intermediate cycle top.

The comments above and below are excerpts from an article by AG Thorson ( which has been edited ([ ]) and abridged (…) to provide a faster and easier read.

Gold Prices

As described in the article explaining the 6-month gold cycle, prices make 4-5 price lows throughout the intermediate trend. We just completed the second low and, from here, prices should advance nicely.

Silver Prices

Silver and gold nearly always correlate – with their cycles matching closely. Silver displayed relative strength in late June, holding above the 10-day EMA during the first cycle low. There is likely significant power remaining. Consequently, prices should rally from here. The second low arrived at $19.27. Subsequently, a new cycle higher has just began.

Gold Miners

Miners dropped slightly below their Thursday low of $27.80, but remained above support. The low is in, therefore we could see GDX approach $37.50 in September. That translates to roughly 360 in the HUI.

Disclosure: The above article has been edited ([ ]) and abridged (…) by the editorial team at (Your Key to Making Money!) to provide a fast and easy read.
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