In the first half of 2016, it shone like no other asset class. It rose, rose and rose again.
Come the second half, it’s hard to find anything as awful.
Welcome to another year in the life of gold…

My concern is that $1,050 may be calling once again and we will need to re-test that level, just as gold double-bottomed at $250 in 1999 and again in 2001. What we may or may not see here is a bounce from oversold levels.