I decided to prepare this report to post today, and then take the next few days off 🙂
As the year draws to an end, it may be helpful to step back and take a look at the big picture for gold.
Looking back over the prior 30 plus years for gold we can see that gold prints a major multi-year low, on average, every 96 months.
Once that major 8 year low prints, gold confirms a new 8 year cycle by regaining the 20 month MA.
The current 8 year cycle peaked on month 35. November was month 73 for the 8 year cycle and month 11 for the yearly cycle. Gold is in its timing band to print a yearly cycle low. Since gold has printed a 76 month “8 year low” previously we need to be open to the possibility that this yearly cycle low could host the 8 year low. If gold regains the 20 month MA that will signal a new 8 year cycle.