Gold is at a crossroads – which way will it turn?

While other commodities have fallen sharply, and stock markets are wobbling too, gold has remained near its highs. But now it's approaching a crossroads, says John C Burford. Will it continue on to higher highs? Or will it follow other markets lower?

We are all aware that gold has been in a long-term bull market. The reasons are spelled out ad nauseam in the blogosphere, in the mainstream media, and here at MoneyWeek.

Following the credit crunch and the QE money-printing operations, faith in fiat currencies has hit a very low ebb.

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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.