GOLD - SAFE HAVEN -
Added 2024-09-03 11:08:03 +0000 UTCGold broke out of of its 4 year range in November '23 above $2100 and has taken off since and we have been monitoring its impulse wave since October '22
We can see that the pull back in October '23 came back to its 0.618 Fib and held at $1800 for Wave 2
We have then set the 1.618 Fib at $2559 to find Wave 3, as we can see the price is very close to this level now but not quite there yet
As always at the 1.618 Fib, we expect a pull back for Wave 4 next, which would be on the 0.38 Fib at $2,273
This has moved in a perfect impulse wave since 2022, so I expect this to continue, so a hold on the 0.38 Fib and you have your buy signal to add to catch Wave 5 up to at least $2735 or as high as $3000
Gold is substantially ahead of Silver as it has made a new ATH and Silver is still below its ATH level, so this lag is why we have been buying Silver and not Gold, I believe Silver makes it to its ATH level too.
