I have been accumulated gold for the last few years and seeing the recent gains I got excited about the future of gold so I decided to look at it from the technical point of view. I am not an expert but I have been using charts for the last 30 years. They not always work nor I claim that I can predict anything. I look at the monthly chart and taking the low point of gold in 2000 to the top around $1921 in 2011, gold made the retracement of Fibonacci number of 50% to around $1046 in 2015. Since then it has been in consolidation state, which is good as it creates the base, from which it can spring out to the higher levels. The recent gains are nothing yet as they are only in the consolidation state. I would like to see the price of gold well over $1400 to get really excited. If we can go through that the next stop, we might as well see the highs of the year 2011. Of course, there are few stops like the lows of 2012 of $1527, which is usually the strong resistant line. The chart of gold is looking very good. The recent gains look impressive but if my prediction comes true and it will clear the $1400 level, we will see much better gains in gold. Mind you that I analyzed the monthly market so it will take much longer, but the best gains are in front of us. It’s my 2 cents or in Polish my 2 groszy.