The latest gold dilemma

Gold has presented John C Burford with a problem - albeit one most traders would love to have.

After very large declines this week in the Dow, the trades I have recently described in gold and to a lesser extent the euro are going to plan. That means I have few new lessons to relate today!It is a question of keeping one eye on likely support zones where rallies can be started and short-term profits can be banked.

But gold is presenting me with a little headache, albeit one that most traders would like.

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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.