Kabuki Takaaki "Weekly Gold Market Outlook" January 30, 2023 issue

Mr. Takashi Kabutoki, President and CEO of Investment Daily, and a master of cycle analysis, writes a weekly report on gold market outlook.

-----------------------------------------------------------------------------------

Last week's near-term price of gold in New York settled at $1,929.40, up $1.20 from the previous week. The high price reached $1,949.80, a level not seen since April last year. It seems time to change one's view on gold.

As for last week's comment: up to now, technically gold has been in a corrective rally, but for the bears this is a critical line. This time, with eight-year cycle analysis, we are forced to review our stance. Last year, even the USD/JPY five-year cycle forced changes, and overall there were moments where the long-standing, more-than-30-year cycle was shown to be continuing to be denied. This year, will this gold market experience a major change like the USD/JPY? We will watch for a while longer. Regarding the eight-year cycle of gold, as previously mentioned, if the weekly close goes above $2,000, we must shift to the view that a bottom has formed.

Although it has not yet exceeded $2,000, given the current momentum, the eight-year cycle is likely indicating that a bottom has formed and a new eight-year cycle has begun. Thus far, we had regarded gold’s rebound as a corrective rally, but we must now treat it as a genuine trend.

Please see the continuation in the PDF file.

【Takashi Kabutoki – Profile】

Graduated from Kwansei Gakuin University, Department of Economics. In 1995, partnered with world-renowned U.S. market analyst Raymond Merriman and issued the domestic first market cycle and astrology report. Well-regarded for market analysis that utilizes cycles and astrology. President & CEO of Investment Daily, President of Investment Daily Publishing Co., Ltd., Director of Wakabaya FX Associates, Member of the Japan Technical Analysts Association, Editor-in-Chief of Investment Daily Alpha.

＊ Investors should make final decisions at their own risk.

＊ Unauthorized copying or distribution of this report constitutes a breach of contract. If such breach is discovered, legal action may be taken, and distribution may be halted even within the subscription period. We appreciate your understanding and cooperation.

＊ This report does not guarantee future outlook accuracy or profitability. Traders and readers should trade at their own risk. Neither the author nor the publisher shall bear responsibility for the decisions of any market participants. Regardless of the instrument, spot, futures, and options trading are considered high-risk.