The person who accurately predicted the gold plunge mentioned a bottoming date.

Source: Wall Street Intelligence Circle

Gold Predict technical analyst AG Thorson issued a bottom signal this week, predicting that the current round of precious metals correction that began in January is nearing its end. Gold and Silver are searching for the “final low.”

The author repeatedly emphasizes: this correction has completed 95%. Most of the risk was released during the sharp decline since January. Even if there is one last drop ahead, the downside is likely limited. The real focus should not be on how much further it can fall, but on when the market confirms the correction is over.

Therefore, he continually highlights two timeframes:

First, the U.S. Nonfarm Payrolls data. If the data is weaker, the dollar will likely continue to weaken, making it easier for gold to complete its bottoming process.

It’s worth noting that this article was published the day before the Nonfarm Payrolls report—showing that the author’s predictions aligned closely with what happened in the market this week. After weak payrolls were released, the dollar plunged and gold surged by nearly $80, with rate hike expectations declining noticeably. While there were subsequent concerns about economic slowdown, gold remained strong, indicating that the market is once again treating gold as a “rate-sensitive asset.”

Second, the author specifically points out July 7—pay attention to the time around July 7, as silver could form a true bottom.

Historically, in many bull runs, silver tends to bottom later than gold, with gold usually stabilizing first. Silver might continue to be volatile for a few days, shaking out the last batch of investors. Afterwards, silver often rises faster than gold; that’s why the author is closely watching silver. If silver truly stabilizes, it usually means the entire precious metals sector is entering a new upward phase.

Additionally, the author suddenly mentions Micron. Since April 2025, Micron’s stock price has risen from about $65 to over $1,200—technical indicators are starting to diverge (RSI divergence, MACD divergence), and the rally is becoming more irrational. However, he makes a thought-provoking point: he would never short it now, because trend is far more important than technical indicators. All true bull markets ultimately develop into nearly crazy price movements. In the coming years, gold mining stocks may replicate the performance seen in AI chip stocks today.

The author is clearly more pessimistic on bitcoin than on gold. $58,000 is a very crucial level—if it breaks, the next leg down could start. The real macro-cycle bottom might not arrive until October.