Dear Members,
The first quarter ended smoothly but significant developments are taking place, namely that Gold has finally started moving higher. As per our book, the current cycle is very positive for Gold. Interestingly gold is also holding value against the higher interest rates, which is great news for yellow metal investors.
On the other hand, bitcoin and Crypto have been pulling money from people who used to invest in gold to hedge against inflation and risk. The younger generation as well as a large amount of institutional money is now invested in Crypto, but Gold’s trend last week indicated that Gold is ready to take the fight against Crypto and put itself back on the frontline as the best alternative investment tool.
If Gold closes above $2283 for three days then we may see $2368, and after that Gold may test $2778. At this stage Silver is underperforming but Silver can take the lead as well, but first lets wait and watch to see what happens from Wednesday to Friday. If both these precious metals close higher for three days then we may see a new era in metals. Don’t short or sell metals at any price until we recommend it. Gold can fight against crypto, the Dollar, and the FED in the coming time.
Markets are performing well as predicted for Monday, one must stay long but Wednesday and Friday will be crucial days for the market.
The rest of the commodities will trade mixed so don’t put much focus on the other commodities. We are recommending staying long in the USD.
Oil will be on our selling list so get ready to take short positions in oil on Wednesday.
Read this week's Weekly or Daily letters carefully,
Thanks & God Bless
Mahendra Sharma