Gold Forecast: Current Gold Cycle Positioning
With the action seen over the past month or so, Gold dropped down to form a late-March trough of 4132.70 (June, 2026 contract). From there, however, the following action confirmed a bottom in place with our 34 and 72-day cycles, with the latter currently viewed as pushing higher into June.
Gold's 10-Day Cycle
For the very near-term, the downward phase of our smallest-tracked cycle - the 10-day wave - is currently in force, but is into bottoming range.
Here again is that 10-day cycle in Gold:
In terms of time, we projected the April 23-27 timeframe as the ideal range for the next 10-day trough to form - which we are obviously now into.
With that, we should expect to see a decent spike higher in the coming days, ideally playing out into the first week of May. In terms of price, our ideal favored a countertrend dip with this 10-day cycle, which meant one that remained above the 4620.90 figure (June, 2026 contract).
Going further with the above, the best 'look' would be for the coming rally with the 10-day cycle to take Gold back to or above the most recent swing high of 4917.70. If seen in the next week or two, that action would set up yet another peak, this time with our next larger wave, the 34-day cycle.
Gold's 34-Day Cycle
Above the 10-day component, there is the 34-day cycle in Gold, shown again on the chart below:
In our Gold Wave Trader report back in early-April, the overall action confirmed a low in place with each of the larger 34 and 72-day cycles. In terms of price, the minimum expectation called for a rally back to the 34-day moving average, which was easily seen with the action that followed.
In terms of time, the detrend that tracks this wave shows this 34-day cycle topping, though this indicator is better at projecting where its next low will form - and not the current trend, which is still viewed as higher, against the backdrop of a correction phase with the smaller 10-day cycle.
All said then short-term, the path is favoring a countertrend dip with the 10-day wave that is currently in force - but into bottoming range. From there, a potential spike back to higher highs on the next upward phase of this wave, before peaking the bigger 34-day cycle. From there, another (ideally, countertrend) correction would be expected, before turning higher again into mid-June, plus or minus.
Gold's 72-Day Cycle
Above the 34-day wave, there is the 72-day cycle for Gold - which is shown below:
From my 3/22/26 article: "one net positive is the fact that our 72-day 'oversold' indicator has now moved below its lower reference line - something normally seen closer to bottoms with this particular wave. With the above said and noted, we expect the next key low for Gold to now come around the early-April window, plus or minus. From there, we would expect a sharp rally of some 12-14% or more to play out into the May/June timeframe."
As mentioned above, our 72-day 'oversold' indicator dropped down below its lower reference line back in late-March - something seen closer to bottoms with this particular wave. With that, the action that followed ended up confirming an upturn in this cycle, which could hold up into early-to-mid June, before topping once again.
Going further with the above, with the 72-day wave seen as pointing higher, the ideal path should favor a countertrend correction, first here with the 10-day wave, and - more key - with the bigger 34-day component, into May. Stepping back, the next trough for the bigger 72-day cycle is due to form around mid-July, though with a decent plus or minus variance in either direction. Stay tuned.
Jim Curry
The Gold Wave Trader
Market Turns Advisory
http://goldwavetrader.com/
http://cyclewave.homestead.com/
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