The preferred view is that Gold is just emerging from a major trough put in on 28 September. It could either be that of an 18 month cycle (which was due then) or a 40 week cycle. The exact magnitude is not yet confirmed, but if so either way the message should the same: a meaningful advance could be about to kick in again. We are currently stalking the first 20 day cycle trough, which is due this week and once confirmed should lead to an upswing into the 40 day cycle peak at the end of October - the red arrows describe the potential price path. Alt view: it is still possible that the expected 20 day cycle trough has limited impact on price and we see further downside. The implication here would be that the 18 month cycle low is still slightly ahead of us. We will be monitoring in intra week updates.
Price expected to turn up and rally into the next 40 day cycle peak