Gold Forecast: Gold Crashing Into Our Cycle Target

September 21, 2020
Technical Analysis Expert & Editor @ GoldPredict.com

gold bars

In August, our article Cycles Support A September Buying Opportunity reported the potential for an aggressive cycle decline into the next 6-month low. That collapse is underway and we could see a buying opportunity by late September or early October.

Gold Price Update

Though gold consolidated a bit longer in August than expected, our September/October Target box remains valid. Our updated forecast Gold Nearing Final Peak of Triangle Pattern foresaw last week’s peak and warned of the ensuing collapse.

As a reminder, gold prices tend to form a cycle low roughly every 6-months. Sometimes the cycles are cut short, as we saw with the coronavirus - other times, they extend. The March 6-month low arrived early due to the extreme nature of the decline, and the next low is rapidly approaching. 

Our Gold Cycle Indicator was designed to navigate the 6-month cycle. I will not expect a low until the value drops below 100 (currently 294) and enters minimum cycle bottoming. At a minimum, we believe gold will revisit $1800. 

When the GCI drops below 100, I will begin adding to our Gold Predict Educational Portfolio. I am considering adding silver miners and some energy. I believe the unprecedented gas and oil well shutdowns will create a supply issue next year; higher oil prices could spark the upcoming inflation. 

AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For more information visit here.

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AG Thorson is a registered CMT through the MTA and an recognized expert in technical analysis of the precious metals markets. He is also the Editor of GoldPredict.com where members receive daily updates and regularly scheduled reports 3-days a week. He prides himself on making his analysis easy to understand through the use of adaptive and creative charting methods. You can reach AG at info@GoldPredict.com.

Palladium, platinum and silver are the most common substitutes for gold that closely retain its desired properties.

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