Gold is Far From Done to the Upside with Current Run

Gold is Far From Done to the Upside with Current Run

Geopoltical cycles in September are tense and you can see it with Iran/Israel and Gaza but also Russia/Ukraine/Belarus and probably Taiwan and China will heat up. That should continue to support gold and the dollar issued a breakdown signal and could hit 99.50 and 97.50 and that will support gold in September.

We did more research and we are willing to be more patient with gold. We always worry about end of the month fund profit-taking and that could hit Thursday and Friday but it does not have to be dramatic.

Patterns still look like 2650 or 2669 needs to come but it seems until later in Sept.  .  We looked out into September and the larger cycles and seasonals are supportive so we probably need to be patient about our pattern completion   Once 2650-2669  completes, a larger pullback to 2285 will happen into the October low and that would be followed by a rally to 2882 into the January high.  The pattern there is accurate but we are estimating the time window for manifestation.

Entries are soon as the market is often lower at the end of the month on fund position squaring. Stay on top of this exciting market and trade with ETFs also in our ETF Timer which follows GLD and GDX for miners.

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