GOLDBUGS AMEX Goldbugs Index (GOLD)

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Look At Gold Go For Benchmarks
By: Marty Armstrong | March 9, 2024

The Benchmark Cycles in the Metals come together once every 2.67 years. They will often highlight at least a temporary turning point, and then we run cycles on those that will signal the major convergences, such as the 1980 event. This is NOT a 1980 major event, but it is a period of a temporary turning point. Most goldbugs will be screaming that this is the breakout for $10,000. Sorry, not yet. Gold is rallying nicely into the Benchmark. Remember that, again, these Benchmarks are NOT included in the Timing Arrays, which are totally determined by Socrates. These Timing Arrays also do not include the Economic Confidence Model. Socrates determines the timing all by itself - no human intervention. Therefore, it is of great importance to see the Timing Array line up with these human-discovered cycles.

The Benchmark Convergences here in 2024 are the weeks of:

Gold & Silver the Benchmarks

03/11/2024 Silver
03/18/2024 Gold

07/08/2024 Gold
07/15/2024 Silver

We can see that the first bank of overhead resistance in gold stands at 2250 level with the extreme resistance at the 2316 area. You can see we have a turning point this week coming and a Panic Cycle the week of the 18th. This lines up perfectly with the Benchmarks. Therefore, we should expect to see this create a temporary high. Now look at the red line, which is the prior resistance that kept the market flat. What we need to see is gold fall back after this but hold that support at the $2,000 level in general. The next convergence is July, which has been my concern about any escalation of war might begin.

When we turn to the Monthly Timing Array, it is easy to see that we should have expected high volatility here in March. But April is a turning point and a Directional Change. The volatility appears to rise again after July. The next time these Benchmarks will converge will be December 2026 and April 2027. This will be the next MAJOR turning point in the metals on a yearly level after 2024. We will have to watch the $1985 level from here on out. A monthly closing below this area would ring the alarm bell that they will be more devisious than anyone expects.

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