GoldGC=F
$4,195.00
USD / troy oz · futures
decliningInto weekly cycle12 weeks
TranslationEven
Last cycle low2026-07-13
Data 2026-10-06
Explore goldThe cycle outlook
Market snapshot 2026-10-06Eight-year cycle · bearish working view
Gold’s major top may be in.
Our base case is that gold has entered the declining leg of the cycle anchored at the 2022 low. In this view, weekly rallies are countertrend: they should peak earlier, fade faster and increasingly leave left-translated cycles behind.
Why this is our view
- GLD weekly structure: declining; left translation so far.
- 2 of the last 3 completed weekly swing cycles were left-translated.
- GLD monthly structure: declining.
- Gold futures are 24.9% below their highest high since the 2022 anchor.
Working thesis, not a confirmed eight-year top. See the countercase and what changes our view.
Across the metals
Futures prices & weekly cycles · end-of-day data
SilverSI=F
$61.73
USD / troy oz · futures
decliningInto weekly cycle7 weeks
TranslationLeft
Last cycle low2026-08-17
Data 2026-10-06
Explore silverPlatinumPL=F
$1,717.50
USD / troy oz · futures
decliningInto weekly cycle5 weeks
TranslationLeft
Last cycle low2026-08-31
Data 2026-10-06
Explore platinumGold : Silvergold:silver
67.95
declining
Into weekly cycle2 weeks
TranslationEven
Last cycle low2026-09-21
Data 2026-10-06
Explore gold : silverGold, silver and platinum are quoted in US dollars per troy ounce using futures (GC=F, SI=F, PL=F), not spot quotes. The cycle counts on these cards use the same futures series. ETF-based analysis is labeled separately on each market page.
Beyond the price
Make sense of the structure.
Start with the market that interests you. Use the ratio for relative strength, and the methodology to understand what a cycle count can—and cannot—tell you.