Hello Goldtenters, I hope you’re all well, and happy Independence day to our American members. I’ve taken some time away (spent some  time relaxing with loved ones at Lake Garda in Italy), and following some very kind messages, decided to begin posting here again. Things had been pretty stressful for quite some time, so maybe my tolerance levels were low. Anyway, enough of that – perhaps I should start with a recap of my last few posts. I had been making a lot of noise about gold breaking out of bullish chart patterns in currencies all around the planet and left you with this for gold…

and also this bearish chart pattern for the dollar…

As we all know, gold in US Dollars has since rallied over $100 and the bearish rising wedge for DXY has broken down…

The Gold/Silver ratio is doing the same thing it did in the early 2000’s at the start of that huge bull-run (rising). I expect it will reverse before very long, and I’m enticipating a rapid move down as silver plays ‘catch-up’. That should create an ‘around the apex’ type move. A backtest is likely in due course as gold approaches its cyclical low sometime around (EDIT) late 2023 into 2024…

Targets for gold in the next few months/years are difficult, but I would not be at all surprised to see us somewhere between $1550 and $1750 towards the end of this year, and pushing towards new all time highs next year (after all, we’re seeing that happen now in most global currencies). In addition, Trump is openly talking about lowering the Dollar https://www.zerohedge.com/news/2019-07-03/trump-says-us-should-join-great-currency-manipulation-game-devaluing-dollar and Russia/China are getting serious about de-dollarization https://www.zerohedge.com/news/2019-07-03/memorize-term-de-dol-la-ri-za-tion Put the two together and you have a weakening US Dollar which is becoming slowly less relevant globally. Anyway, whatever your view, the Dollar is heading towards cyclical lows in coming years, whilst Gold is moving towards cyclical highs. Following the confirmed breakout in gold (and monthly close above my $1400 ‘psychologically important level’ ), we need to start thinking with a bullish mindset (always keeping downside support in mind). Just take a look back at how gold progressed from 2000 to 2011…

I’m sure the cycle experts will be able to pinpoint where and when these bullish consolidations will take place because they form according to cycles on shorter timescales which I must admit, I find very difficult.

Here’s a very broad view of where we may see gold move over coming years…

Taking the Fib ‘zero level’ at the start of the bull run in the year 2000, and setting the 2016 top as the ‘1’ level, we can see some important price interactions at the various Fib levels (highlighted by orange elipses). I’m merely speculating at the targets, using some guidance from the Fib levels going forwards. However high we get in the next year or two, I’m expecting a large correction into (Edit) 2023/24. A more dramatic and rapid ascent into the peak in the late 2020’s (perhaps 2028) is where I plan to hang up my hat and step aside. I hope to be with you for the ride until then.