Where to now for gold?

As gold bounces back from its recent mini-slump, John C Burford scours the charts for some excellent short-term trades in gold's relief rally.

When I left gold on Monday, it had plunged to a low of around $1,530.

As I mentioned then, when the market was trading at around the $1,550 mark, I expected a strong relief rally. And that's what happened.

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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.