Gold has confirmed a new Daily Cycle Low.
Miners have done the same.
Meanwhile, the Dollar continues consolidating beneath resistance as its own Daily cycle matures.
These developments raise an interesting question: Are we witnessing the beginning of a broader shift between the Dollar and precious metals?
In our earlier article, Is This The First Domino ?, we examined the developing relationship between the Dollar and precious metals. Since then, Gold and Miners have confirmed their Daily Cycle Lows, providing the first evidence of a potential shift.
The Dollar, however, has yet to confirm its own decline.
Gold Makes Its Move
Gold’s Daily cycle extended to Day 58 before producing a swing low and closing above the 10-day moving average, confirming a Daily Cycle Low.
That is an important development following a prolonged Daily-cycle decline.
However, the distinction between a confirmed cycle low and a confirmed bullish trend matters.
Gold remains in a Daily downtrend. A close above the upper Daily Cycle Band would be needed to signal a return to a Daily uptrend.
For now, Gold has established the first piece of evidence. Whether the recovery develops into something more substantial remains to be seen.
Miners Join the Turn
Gold miners have also confirmed a Daily Cycle Low, on Day 57.
Like Gold, Miners have yet to reclaim the upper Daily Cycle Band. Their Daily trend therefore remains bearish despite the confirmed cycle low.
The 50-day and 200-day moving averages also present potential overhead resistance.
Still, the fact that Gold and Miners have confirmed their Daily Cycle Lows together strengthens the case that an important turning point may be developing across precious metals.
The next test is whether price can build on those initial reversals.
The Dollar — The Next Domino?
The Dollar presents an interesting contrast.
Its Daily cycle has reached Day 22, with price consolidating beneath resistance near 102.25.
The Dollar remains in a Daily uptrend, supported by its position above the upper Daily Cycle Band.
But the cycle is advancing, and the extended consolidation raises the possibility that the Dollar may be approaching its own Daily-cycle decline.
A close below the 10-day moving average would signal that the decline is underway.
Until that happens, the Dollar’s bullish Daily trend remains intact.
Cycle Alignment — An Emerging Divergence
Gold and Miners have confirmed their Daily Cycle Lows, but both remain in Daily downtrends.
The Dollar remains in a Daily uptrend, although its advancing cycle and resistance test warrant attention.
A Dollar decline could provide a more favorable environment for the precious-metals recovery. But that relationship is not automatic, and the Dollar must provide its own confirmation.
One Domino at a Time
The significance of these developments is not that every market has reversed.
It is that Gold and Miners have delivered the first confirmations while the Dollar approaches a potentially important decision point.
If the Dollar begins its Daily-cycle decline while precious metals continue recovering, the pieces of a broader market shift would begin falling into place.
If the Dollar breaks higher instead, the developing precious-metals recovery may face renewed pressure.
The next move belongs to price.
And the next domino has yet to fall.
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