A reading of 102 on day 15 means gold is 2% above where the month began
The bars are this month’s gold futures, green on an up day and oxblood on a down day. The grey dashed line is the average path of the same calendar month on record, and the gold line is our Natural Cycle model. Hover over the chart, or tap it on a phone, and the bar above it gives all three values for that day.
The record starts at the end of August 2000, where the daily closes of COMEX gold futures begin in the data behind this chart. Once a month has bars, the two lines are stretched to them so their turns line up with the price. The Invert buttons flip a line upside down, for months when gold runs against its usual path.
We published a gold target of $1,621 before 2022 began, and gold’s low that September was $1,620.32
The 2022 Market Forecast went out in late 2021 and named $1,621 as gold’s bear-cycle target. Gold made its 2022 low of $1,620.32 in September, 68 cents from the level. Set the tool to September 2022 to see that month. The 2022 case file has the full record.