Replies to post #38143 on GOLDBUGS AMEX Goldbugs Index (GOLD)

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Martin Armstrong: Gold Update

* December 29, 2016

The failure of Gold to close lower than 2015 1060.30 is not bullish. A closing still below 1179 keeps gold in a broader weak position. The 1130 area will become more critical as support. The failure of 2016 to produce the lowest annual closing only opens the door to the possibility that the final low could yet be pushed off into 2018 in the face of a major dollar rally. A closing below 1130 will still leave gold more bearish that bullish.

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