Why did gold crash?

The dramatic crash in the gold price was a great example of what drives markets. But what matters most for traders, says John C Burford - is what's coming next.

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OPEN INTEREST: 413,083
COMMITMENTS
204,67775,79518,067144,522286,451367,266380,31345,81732,770
CHANGES FROM04/09/13 (CHANGE IN OPEN INTEREST: -3,430)
865-8,658-5,8068,6676,7943,726-7,670-7,1564,240
PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS
49.518.34.435.069.388.992.111.17.9
NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS: 336)
17086826147258193Row 8 - Cell 7 Row 8 - Cell 8

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.