For traders - The outlook for the price of gold in May is still bearish but based on the short term analysis, gold and silver have hit the interim bottom last week at 1215 and 16.06 respectively. Gold might rebound to 1245-1250 before another leg down to 1170 and Silver might rebound to 16.80-17.00 before resuming a new decline down to 14.80-15.00
Let see the charts below
For investors- I really wish that Gold and Silver Bull Cycle is here now but unfortunately there are no signs of seeing that. Based on the long term Cycle analysis, Bull Cycle can only start early next year (Feb-April). If they were to come earlier later this year, we should be able to make changes and buy for an investment purpose. The next confirmed Bull Cycle should last into 2023 if come in early next year 2018. Be patient, we will catch the bull train to see gold hitting $5000 and silver to reach $120.00 when time come.
See Monthly chart below