Gold’s defying the bears, but for how long?

As a swing trader, you must keep an open mind on gold, says John C Burford. Follow your analysis of the charts.

As a gold trader, one of the benefits of scanning articles and blogs on the metal which are never hard to find, since it seems everyone and his dog has an opinion on gold is that occasionally, you find one author in particular that is (in your opinion) consistently wrong with his or her calls and with perfect timing. This can be very useful information.

I have a writer who performs that role for me. I will not mention his name, but this is the title of his latest article published on Monday (and probably written on the weekend when gold closed down on the week): "Gold all signals point south".

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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.