Saturday, 04 October 2003
Prediction from 6 Oct to 10th Oct.
Yesterday in last two hour trading gold and silver fall quite fast, Truly I say, I was not expecting that fast down ward trend on Friday because I said on 29th that it will remain 2 to 3 dollar here and there when it was $379 but anyway after gold closed yesterday I did gold and Silver chart again and only four hours were showing bad on yesterday. Also chart shows that from next week it will bounce back. If you read last week newsletter on my website, it says volatility in gold but I was very busy so I couldn't put another prediction on Wednesday. Still I hold my prediction on gold crossing $400 soon.
During next week compare to gold, gold stocks will make major gain.
Also I see and feel strongly that this fall happened because:
1. Yesterday's fall will throw out in-genuine or new-comer short term speculators from metal market.
2. Gold is spiritual metal, and many people they don't understand its hidden power, they think that they will menuplate gold on up and down side, I think no, not in this century because that time is over. Go for long term investments in gold or stocks. I feel many short term investors won't make money overall in gold even if gold goes to $500 or $800 because they will lose more when gold will come down for short period (I hope you understand what I mean). Go for long term.
3.Gold is not stock market, currency or technology, it is from the nature and beloved of supreme. In past it went up and down from $200 to $800 and back to $250 but this time it won't happen because this century will rule by gold and supreme is wearing gold crown, like in last 16 months gold never touched $300 price in down side and now it won't touch $350. So its clearly shows will move ahead slowly don't expect bubble and then bust.
Once again I am reminding, stay on long term position in gold, you will never make mistake. If you making 10 or 15% in every six months you should be happy because it will be 20% in a year or even little bit more if you are more lucky so, don't become greedy.
Many told me yesterday that gold has break all supporting level and looks very scary now but to me it looks another great opportunity to buy at this level because this current prices will be history.
On silver I don't want to say any thing for this week because I already predicted last week major rise in silver prices this week, so I will wait and watch.
On Platinum, It moved as predicted so I hold same prediction for this week prices to rise more than 5%.
Stock market they made handsome gain during last week as predicted but next week look very scary, means sudden fall any time in during the week.
Currencies, For First two days Dollar will remain stable but than after it will start falling down.
Thanks & God Bless
Mahendra