Whats up with the yellow shining metal?

A recent cycle update on Gold.

Two prevailing cycles in gold create an interesting situation for this summer: both the 110-day cycle and the 211-day cycle are now bottoming in the July-August period.

The following two charts show the gold price compared to the prevailing cycles, with trend reversals highlighted in red according to the cycle timing.

Gold 110 Days Cycle

Gold 211 Days Cycle

Technical Situation

It is interesting to point out that both cycles are harmonically connected by the factor 2 and 1/2 respectively.

If we use the dominat cycle length of 110 and use half of the cycle length to fine-tune a RSI indicator on the price chart, the technical reading of that indicator would confirm a low.

Please keep in mind that silver and gold prices are highly dependent on economic conditions and monetary policy. So the cycles do not show the whole picture. Please make sure you do your own due diligence before taking any action.

Have a nice week ahead!

Regards,
Lars

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