What is the very big picture of spot Gold telling us, if anything? That there is a very bullish outlier scenario that could be unfolding...

We can make the case that all of the action from 2013 through mid-April 2017 is a base-accumulation formation that concluded the major corrective period from the September 2011 high at $1921.50 into the December 2015 low at $1046.20.