The gold market just got very interesting

Just a month ago, gold was shunned by investors, says John C Burford. Now we're in August, it's a very different story.

This morning I awoke to news that the US intends to intervene militarily in Iraq. Politics is not my beat, and I will not comment on the fiasco of Western involvement with that blighted country. But the impact on the markets is being felt already with a flight to gold (and the US dollar).

Compounding the negative news, Russia has just imposed its own sanctions on the West by banning food imports. This will hit share prices hard. Who knows how this will escalate.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

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.