Gold - 2016 Outlook. Remains a 'Sell the rally'

Updating view for 2016 from the old chart published last year. Price has fallen to hit the first target at 1085. Sadly Gold remains a 'sell into the rallies'

Expect bounces towards 1150/1200 which are ideal levels to sell, targeting 1000/975. I doubt if 725 will be reached this year. Gold is practically telling that 2016 could be another year of deflation.

A monthly close above 1240/1250 should send the alarm bells ringing for the bears.

Good luck and be a Gold bear this year!!