http://mahendraprophecy.com/LatestFlash.asp?Id=389&Page=1 ![]()
Financial newsletter from 16 to 20 June 2008
GOLD
Last week gold traded as we had predicted. In the last newsletter, we recommended covering up the short positions in metals on Friday, which you may have done. This week I see gold stabilizing and beginning to trade positively, therefore any weak trend on Monday and Tuesday should be taken as a buying opportunity in metals (Only for short period). Meanwhile, hold your long position till Wednesday. Best time to sell on Thursday, and weak trend will remain on Friday.
Recent positive trends in grains and energy have been unable to support metals, the reason being the up trend of USD.
In coming times, a mixed trend will be seen in metals, and money will flow back into metals after being diverted from energy. This may support gold prices.
Two factors will dominate in the next two weeks; the rising trend in the Dollar, which I clearly see happening, and a major fall in commodities especially energy and grains.
This is poised to occur anytime from this week. Grains and energy are entering into a long-term bear market from Wednesday, and metals will steer their own destiny from here onwards. They will trade in a good trading range, and members should therefore take advantage of this trading pattern. Lately we have been quite accurate in the weekly trend and one should not hesitate to take full advantage of it! This week’s trading range for gold will be $898 to $872.
SILVER
The prices of silver will follow the trend gold this week. Silver will trade positively from Monday to Wednesday, therefore buy on any weakness.
However, Friday will witness a decline. ![]()