Gold - approaching change in trend.

Gold update - Week commencing July 11th 2022

Introduction

In our Fiorente2 Stock Market Outlook - third edition, of which many of our Substack premium subscribers were able to obtain at a discounted price, we already foresaw a downtrend coming to GOLD, whereas most experts and on social media bloggers were expecting a further run upwards (like I did in my substack post of March 2022). With new data coming to the surface the forecast was changed end of April 2022 and I wrote:

“Gold seems to continue on its path laid down by the log trend line. I am still weary for a foldback to occur like in 2011-2012 when we had the first top around $2000. This might take some time as the foldback suggests into late 2023 on a 8 year cycle. If the stock market has made a low by that time perhaps the foldback continues.” From: Fiorente2 Stock Market Outlook 2022. Back issue still available.

This was the chart that I published:

Gold continued on its downward trend, as the foldback suggested but is now close to an intermediate change in trend as the above foldback suggested.

I have updated above chart here on Substack with additional daily and a 3 weekly chart to show my premium subscribers a more detailed path ahead. The paid subscribers can read further from here on the latest update.

Hypothetical or simulated performance based on past cycles have many limitations. Cycles can contract, extend and invert. Hence, past performance is no guarantee for the future. Read our disclaimer.