Gold, monthly'2, fibs
Silver, monthly'2, fibs
The second consecutive monthly gain for the precious metals.. which is notably impressive, considering the relentless USD strength (month'7 UP). Yet.. we've seen these kind of bounce moves before. I find it difficult to believe that $1130 is a multi-year floor for Gold.
Holding to a broader bearish outlook...
The following outlook is based (partly) on the ECM by Armstrong.
Suffice to add, the above scenario is merely a 'best guess', and will be subject to change, not least if the USD experiences a brief cooling phase this spring.