Make Kitco Your Homepage
Contributed Commentaries
  1. Kitco Metals Inc.
  2. Commentary Archive
  3. Bio

Gold and Silver Report: June 15

On May 5, I stated that “projected high timing was due the week starting May 18 with projected low timing due the week of June 15.” So far, the timing is on target.

Weekly Reversal Timing is also due this week. [Week starting June 15th]
Any decline below the June 8 low [last weeks low of 1168.50 [GCQ] will be expected to bring a reversal to the upside. For now, upside resistance is at 1189.10, 1192.50, and then 1202.60.  An advance above 1232.80 is needed to turn the major trend to the upside.

The 5 ½ year cycle low for Silver is due ideally in July, but a major reversal in price direction is due in August. Therefore a decline below the July low into August will be anticipated to be the beginning of a new bull phase for Silver. It would also suggest that an upward move in Gold, before August, will be diminished by this timing.

The following is the original commentary from May 5.

Gold Report: May 5, 2015:

Will the week starting June 15th be the next low for Gold?

Viewed from the longer-term perspective the 36-week cycle low in Gold is due in mid-July.  The 5 ½ year cycle low for Silver is also due in mid-July.  In addition: the month of July aligns with the 9-month sine wave low in Crude Oil.  This timing will take on more importance if the market can make a secondary higher bottom in the July time frame.

For now, basis the Cash Monthly, the 14 RSI confirmed bottom divergence in November of 2014, which is potentially bullish.  Moreover, from the October 2008 low to the September 2011 high, a .618 retracement placed support at 1164.20: the November low was 1142.00, but is now trading above this support level.  

Projected high timing is due the week starting May 18 with projected low timing due the week of June 15.  If the market can advance above the April 6 high into the projected high timing then it will suggest a higher bottom into the June 15 low.  Once, this is confirmed, the bull phase should be instated.

Fred Starkey



Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
kitco news