The next major move in gold is down

Gold has put in a top, but the market is spiky. John C Burford applies Elliott wave theory to the charts to find his next target price.

In my last post on gold on 14 August, I asked, is the gold rally over?

As it happened, I was a little premature, but this morning it appears we have seen the top to the rally off the infamous late June plunge low of $1,180.

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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.