Where will gold's freefall end?

After topping out around $1,920 an ounce, the price of gold has gone in to freefall. But where will it end, and what does the gold market hold now? John C Burford examines the charts for clues.

With gold in total free-fall it fell another $100 over the weekend the short-term charts are proving pretty worthless in terms of tramline trading.

So we must go to the long-term charts.

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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.