Last week we wrote that the 2016 bull market in Gold and gold stocks had gone
off course. It had moved too far out of the historical boundaries to remain
a bull market. There was also other evidence of such including but not limited
to rising real yields. Gold's last hope was to hold $1200-$1210 and rebound
back to the highs. It has broken bull market support ($1200-$1210 and $1230)
and could be on its way to $1050 in the next few months.
The monthly candle chart of Gold is shown below
