This psalm expresses a confident expectation of eternal life and happiness, founded on the evidence of true attachment to God. It expresses the deep conviction that one who loves God will not be left in the grave, and will not be suffered to see permanent "corruption," or to perish in the grave, forever.
The contents of the psalm are the following:
(1) An earnest prayer of the author for preservation on the ground that he had put his trust in God, Psalm 16:1.
(2) A statement of his attachment to God, Psalm 16:2-3, founded partly on his consciousness of such attachment Psalm 16:2, and partly on the fact that he truly loved the friends of God, Psalm 16:3.
(3) A statement of the fact that he had no sympathy with those who rejected the true God; that he did not, and would not, participate in their worship. The Lord was his portion, and his inheritance, Psalm 16:4-5.
(4) Thankfulness that the lines had fallen unto him in such pleasant places; that he had had his birth and lot where the true God was adored, and not in a land of idolaters, Psalm 16:6-7.
(5) A confident expectation, on the ground of his attachment to God, that he would be happy forever; that he would not be left to perish in the grave; that he would obtain eternal life at the right hand of God, Psalm 16:8-11. This expectation implies the following particulars:
(a) That he would never be moved; that is, that he would not be disappointed and cast off, Psalm 16:8.
(b) That, though he was to die, his flesh would rest in hope, Psalm 16:9.
(c) That he would not be left in the regions of the dead, nor suffered to lie forever in the grave, Psalm 16:10.
(d) That God would show him the path of life, and give him a place at his right hand, Psalm 16:11.
Nothing can be determined with certainty in regard to the occasion on which the psalm was composed. It is such a psalm as might be composed at any time in view of solemn reflections on life, death, the grave, and the world beyond; on the question whether the grave is the end of man, or whether there will be a future. It is made up of happy reflections on the lot and the hopes of the pious; expressing the belief that, although they were to die, there was a brighter world beyond - although they were to be laid in the grave, they would not always remain there; that they would be released from the tomb, and be raised up to the right hand of God. It expresses more clearly than can be found almost anywhere else in the Old Testament a belief in the doctrine of the resurrection - an assurance that those who love God, and keep his commandments, will not always remain in the grave.
The psalm is appealed to by Peter Acts 2:25-31, and by Paul Acts 13:35-37, as referring to the resurrection of Christ, and is adduced by them in such a manner as to show they regarded it as proving that He would be raised from the dead. It is not necessary to suppose, in order to a correct understanding of the psalm, that it had an exclusive reference to the Messiah, but only that it referred to him in the highest sense, or that it had its complete fulfillment in him. Compare Introduction to Isaiah, Section 7, iii: It undoubtedly expressed the feelings of David in reference to himself - his own hopes in view of death; while it is true that he was directed to use language in describing his own feelings and hopes which could have a complete fulfillment only in the Messiah. In a more full and complete sense, it was true that he would not be left in the grave, and that he would not be allowed "to see corruption."
It was actually true in the sense in which David used the term as applicable to himself that he would not be "left" permanently and ultimately in the grave, under the dominion of corruption; it was literally true of the Messiah, as Peter and Paul argued, that he did not "see corruption;" that he was raised from the grave without undergoing that change in the tomb through which all others must pass. As David used the language (as applicable to himself), the hope suggested in the psalm will be fulfilled in the future resurrection of the righteous; as the words are to be literally understood, they could be fulfilled only in Christ, who rose from the dead without seeing corruption. The argument of Peter and Paul is, that this prophetic language was found in the Old Testament, and that it could have a complete fulfillment only in the resurrection of Christ. David, though he would rise as he anticipated, did, in fact, return to corruption. Of the Messiah it was literally true that his body did not undergo any change in the grave. The reference to the Messiah is, that it had its highest and most complete fulfillment in him. Compare the notes at Acts 2:25-31.
The title of the psalm is, "Michtam of David." The word "Michtam" occurs only in the following places, in all of which it is used as the title of a psalm: Psalm 16:1-11; Psalm 56:1-13; Psalm 57:1-11; Psalm 58:1-11; 59; Psalm 60:1-12. Gesenius supposes that it means a "writing," especially a poem, psalm, or song; and that its sense is the same as the title to the psalm of Hezekiah Isaiah 38:9, where the word used is rendered "writing." According to Gesenius the word used here - מכתם miktâm - is the same as the word employed in Isaiah - מכתב miktâb - the last letter ב (b), having been gradually changed to ם (m). Others, unaptly, Gesenius says, have derived the word from כתם kethem, gold," meaning a "golden" psalm; that is, precious, or pre-eminent. DeWette renders it: "Schrift,"" writing. It is, perhaps, impossible now to determine why some of the psalms of David should have been merely termed "writings," while others are mentioned under more specific titles.

The contents of this Psalm are usually given in the following manner: David, sojourning among idolaters, and being obliged to leave his own country through Saul's persecution, cries to God for help; expresses his abhorrence of idolatry, and his desire to be again united to God's people, Psalm 16:1-4; and dedares his strong confidence in God, who had dealt bountifully with him, Psalm 16:5-7. Then follows a remarkable prophecy of the resurrection of Christ, Psalm 16:8-11.
The title of this Psalm in the Hebrew is מכתם לדוד michtam ledavid, which the Chaldee translates, "A straight sculpture of David." The Septuagint, Στηλογραφια τῳ Δαυιδ, "The inscription on a pillar to David;" as if the Psalm had been inscribed on a pillar, to keep it in remembrance. As כתם catham signifies to engrave or stamp, this has given rise to the above inscription. מכתם michtam also means pure or stamped gold; and hence it has been supposed that this title was given to it on account of its excellence: a golden Psalm, or a Psalm worthy to be written on letters of gold; as some of the verses of Pythagoras were called the golden verses, because of their excellence. Gold being the most excellent and precious of all metals, it has been used to express metaphorically excellence and perfection of every kind. Thus a golden tongue or mouth, the most excellent eloquence; so Chrysostom means, this eminent man having had his name from his eloquence; - a golden book, one of the choicest and most valuable of its kind, etc. But I have already sufficiently expressed my doubts concerning the meanings given to these titles. See the note on the title of Psalm 60:1-12 (note).
That David was the author there can be no doubt. It is most pointedly attributed to him by St. Peter, Acts 2:25-31. That its principal parts might have some relation to his circumstances is also probable; but that Jesus Christ is its main scope, not only appears from quotations made by the apostle as above, but from the circumstance that some parts of it never did and never could apply to David. From the most serious and attentive consideration of the whole Psalm, I am convinced that every verse of it belongs to Jesus Christ, and none other: and this, on reference, I find to be the view taken of it by my ancient Psalter. But as he is referred to here as the Redeemer of the world, consequently, as God manifested in the flesh, there are several portions of the Psalm, as well as in the New Testament, where the Divine and human natures are spoken of separrately: and if this distinction be properly regarded, we shall find, not only no inconsistency, but a beautiful harmony through the whole.

INTRODUCTION TO PSALM 16
Michtam of David. This is a new title, not met with before, though it afterwards is prefixed to "five" psalms running, the fifty sixth, the fifty seventh, the fifty eighth, the fifty ninth, and the sixtieth psalms. Some take the word "michtam" to be the name of a musical instrument, as Kimchi on Psalm 4:1; others the name of one of the tunes, as Jarchi; and others the tune of a song which began with this word, as Aben Ezra observes, to which this psalm was sung; the Septuagint translate it "stelography", or an inscription upon a pillar; such an one as is erected by conquerors, as Theodoret observes, having writing on it declaring the victory obtained; suggesting that the psalm, or the subject of it, the death and resurrection of Christ, was worthy to be inscribed on a pillar of marble; and the Targum renders it, "a right engraving", that deserves to be engraven in a monument of brass: but what seems to be the best sense of the word is, that it signifies a work of gold, and may be rendered, "a golden [psalm] of David"; so called, either because it was a dear and favourite song of his; or from the subject matter, which is more valuable and precious than the most fine gold: the title of it in the Syriac and Arabic versions is,
"concerning the election of the church, and the resurrection of Christ;''
and certain it is from Psalm 16:10, the resurrection of Christ is spoken of in it, as is clear from the testimonies of two apostles, Peter and Paul, who cite it in proof of it, Acts 2:25; and since there is but one person speaking throughout the psalm, and Christ is he that speaks in Psalm 16:10, and which cannot be understood of David, nor of any other person but Christ, the whole of the psalm must be interpreted of him.

This psalm begins with expressions of devotion, which may be applied to Christ; but ends with such confidence of a resurrection, as must be applied to Christ, and to him only.

Refuge in God, the Highest Good, in the Presence of Distress and of Death
The preceding Psalm closed with the words לא ימּוט; this word of promise is repeated in Psalm 16:8 as an utterance of faith in the mouth of David. We are here confronted by a pattern of the unchangeable believing confidence of a friend of God; for the writer of Psalm 16:1-11 is in danger of death, as is to be inferred from the prayer expressed in Psalm 16:1 and the expectation in Psalm 16:10. But there is no trace of anything like bitter complaint, gloomy conflict, or hard struggle: the cry for help is immediately swallowed up by an overpowering and blessed consciousness and a bright hope. There reigns in the whole Psalm, a settled calm, an inward joy, and a joyous confidence, which is certain that everything that it can desire for the present and for the future it possesses in its God.
The Psalm is inscribed לדוד; and Hitzig also confesses that "David may be inferred from its language." Whatever can mark a Psalm as Davidic we find combined in this Psalm: thoughts crowding together in compressed language, which becomes in Psalm 16:4 bold even to harshness, but then becomes clear and moves more rapidly; an antiquated, peculiar, and highly poetic impress (אדני, my Lord, מנת, נחלת, שׁפר, תּומיך); and a well-devised grouping of the strophes. In addition to all these, there are manifold points of contact with indisputably genuine Davidic Psalm (comp. e.g., Psalm 16:5 with Psalm 11:6; Psalm 16:10 with Psalm 4:4; Psalm 16:11 with Psalm 17:15), and with indisputably ancient portions of the Pentateuch (Exodus 23:13; Exodus 19:6; Genesis 49:6). Scarcely any other Psalm shows so clearly as this, what deep roots psalm-poetry has struck into the Tra, both as it regards the matter and the language. Concerning the circumstances of its composition, vid., on Psalm 30:1-12.
The superscription מכתּם לדוד, Psalm 16:1-11 has in common with Psalm 56:1. After the analogy of the other superscriptions, it must have a technical meaning. This at once militates against Hitzig's explanation, that it is a poem hitherto unknown, an ἀνέκδοτον, according to the Arabic mâktum, hidden, secret, just as also against the meaning keimee'lion, which says nothing further to help us. The lxx translates it στηλογραφία (εἰς στηλογραφίαν), instead of which the Old Latin version has tituli inscriptio (Hesychius τίτλος· πτυχίον ἐπίγραμμα ἔχον). That this translation accords with the tradition is shown by that of the Targum גּליפא תריצא sculptura recta (not erecta as Hupfeld renders it). Both versions give the verb the meaning כּתם insculpere, which is supported both by a comparison with כּתב, cogn. חצב, עצב, and by חתם imprimere (sigillum). Moreover, the sin of Israel is called נכתּם in Jeremiah 2:22 (cf. Psalm 17:1) as being a deeply impressed spot, not to be wiped out. If we now look more closely into the Michtam Psalm as a whole, we find they have two prevailing features in common. Sometimes significant and remarkable words are introduced by אמרתּי, וימר, דּבּר, Psalm 16:2; 58:12; Psalm 60:8, cf. Isaiah 38:10-11 (in Hezekiah's psalm, which is inscribed מכתּב = מכתּם as it is perhaps to be read); sometimes words of this character are repeated after the manner of a refrain, as in Psalm 56:1-13 : I will not fear, what can man do to me! in Psalm 57:1-11 : Be Thou exalted, Elohim, above the heavens, Thy glory above all the earth! and in Ps 59: For Elohim is my high tower, my merciful God. Hezekiah's psalm unites this characteristic with the other. Accordingly מכתם, like ἐπίγραμμα,
(Note: In modern Jewish poetry מכתם is actually the name for the epigram.)
appears to mean first of all an inscription and then to be equivalent to an inscription-poem or epigram, a poem containing pithy sayings; since in the Psalm of this order some expressive sentence, after the style of an inscription or a motto on a monument, is brought prominently forward, by being either specially introduced or repeated as a refrain.
The strophe-schema is 5. 5. 6. 7. The last strophe, which has grown to seven lines, is an expression of joyous hopes in the face of death, which extend onward even into eternity.