Did gold make a major low last week?

Many traders have pinned their hopes - and their cash - on gold falling below the critical $1,525 level. But as John C Burford explains, they could be staring disappointment in the face - again.

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OPEN INTEREST: 417,176
COMMITMENTS
202,63482,42825,084137,205279,727364,923387,23952,25329,937
CHANGES FROM 03/26/13 (CHANGE IN OPEN INTEREST: -2,551)
2,24514,485653-2,383-18,334515-3,196-3,066645
PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS
48.619.86.032.967.187.592.812.57.2
NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS: 358)
18886736250278188Row 8 - Cell 7 Row 8 - Cell 8

John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.