The gold market starts 2014 with a bang

The new year has got off to a flying start in gold, says John C Burford. And there could be plenty more to come.

Welcome to the New Year! 2014 started off with a bang. And that wonderful fireworks display is beginning to shake the complacency out of many markets. Right from the kick-off yesterday, stocks are under great pressure. This is particularly true for crude oil and, crucially, Dr Copper.

I will cover stocks in due course, but today I will focus on the situation in the gold market. Over the holidays, many were wondering if 2014 will be as dreadful for the gold bulls as was 2013.

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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.