The markets have been under extreme pressure in recent months due to rising interest rates.
Since cheap money is no longer cheap and is becoming increasingly expensive, liquidity is being pulled out of the markets. We see in the most diverse areas a strong price drop, which is interrupted by short recovery phases, where all the world thinks, one would have found now the "bottom", the low would be overcome and it would go now again upward, only for the next downward wave to shave the newly entered investors again.
Also with gold and silver the industry stubbornly holds on to the idea, very soon the prices would climb to new highs, unfortunately, however, only the chart says something completely different. Even though we published the current development only at the beginning of July, since then our predictions have been confirmed very well.
The debt endgame is mainly reflected in the Dollar Index chart, where the DXY has hit its 14-year boundary line at the end of September, which has been in place since the Lehman crisis. The Bank of England intervened and the dollar index found a short-lived setback, which I believe has been overcome and the DXY could soon approach 115 again, and then sooner or later run towards 120, or quite possibly end in a final dollar spike above it.
DXY monthly chart
DXY Daily chart
Even if the inverse correlation DXY and gold is not always and fundamentally given, it has had in recent months very accurate: not only the euro and other currencies have fallen further and further against the dollar (global liquidity is pushing into the U.S. dollar due to rising interest rates), but investors also prefer the dollar to gold and silver, which is why gold and silver prices have been in a strong downward trend for months, which, according to today's reason for this post, is probably unfortunately not over.
My short-term forecast for gold in US dollars is that I expect new lows soon, the medium-term trend target of the current downward wave should be somewhere between 1400 and 1540.
Gold Daily Chart
For silver in US dollars, I see coming 13.80 to 17.30 (about 16 Usd likely),
but we know that in the commodity sector a short downward spike is also not uncommon, e.g. similar to the downward spike in March 2020 or in the 2008 recession.
The gold and silver ratio confirms this thesis:
We see an inverted Head&Shoulders formation and a triple-digit GSRatio should indicate very short-term low silver prices.
The euro had stabilized somewhat in recent weeks, but will probably continue its downward trend, which is why the gold and silver prices in euros will continue to fall not quite as much as in U.S. dollars, but still in euros will probably see further lows.
How low gold will go in euros is difficult for me to say today. My red count from early September proved to be too impulsive, but postponed is not canceled.
In silver/euro I had made 2 counts in early September (in red), one of which has now crystallized.
Be that as it may, some speak of a century opportunity, on the other hand the strong price fluctuations are inclined to put the investor to a hard test.
Only the cancellation of the debt from Jerusalem is able to set up a new gold and silver based financial system, which will calculate exclusively in physical GRAMM.
Only a gram-based monetary system can give man the means of payment reliability that man so desperately needs. He will feel the achievement of this goal in a deeply felt peace and quiet, when the distribution pressure and struggle of the interest money system will be over.
And how many grams do you have?
Even if the premiums on physical products differ from the stock exchange price, the physical products will also become cheaper when the prices come down and this should give everyone the opportunity to buy more.
Of course, our trust certificates are also adjusted daily to the spot price and give every investor the opportunity to stock up with real grams of gold and silver.
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I wish you a successful and strong trading week!
Shalom!