Updated Gold Forecast: 2016 Peak To Be Exceeded This Year

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Having observed the strength of gold’s surge following the successful retest of its long-term 2011 – 2017 downtrend three weeks ago, the theme for gold now becomes one of working to overcome 2016 highs over the intermediate term. Our focus must therefore change from one of concern that the retest might fail, which implies a more conservative posture, to the health of the long-term basing pattern that is now rounding upward in terminal fashion. We believe new highs for the move that began in 2015 are in store for this year. Retracements will still occur and they will be scary at times, but in the establishment of a new rising trend we should look to be aggressive amidst dips and not fearful on corrections.

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