Last week gold traded at a new high while silver also moved up above $8.00. Both metals remained strong from Tuesday to Thursday whereas Friday had a mixed trend as predicted. This is a clear indication that the metals are trading by the direction of planetary movements. Once again I was wrong on the stock market and off track about copper and grains as well. Let the December contracts expire, after which the real picture should emerge about the trend to follow. One can however short, at least for the short term.
Oil traded below $57 and the dollar index remained strong. A year ago, I mentioned that a time would come when big money would follow the commodity market; which is what we are seeing at the moment. I shall talk more of this in my book.
Let’s see what is indicated for this week:
PREDICTIONS FOR 21 TO 25 NOVEMBER
I am happy to see the friendship between gold and the dollar; they are both walking together and this is of course a new chapter for both of them. This new golden era is fine for the
Last week gold touched a seventy year high. Oil money moved into gold as a positive short term planetary re-alignment occurred for gold. This is nothing compared to what will happen in future. Though not next year, gold will at one point go as high as $800.
On higher side may push it towards $496.80....
IMPORTANT NOTE: GOLD SHOULD NOT TRADE NEGATIVELY AS THIS IS A POSITIVE WEEK BUT......
I shall provide an important message or alert in the next seventy two hours because this week’s trend will determine next week’s movements: Indeed, I expect some drastic developments and shall therefore be closely watching for any changes.
.........my next target is $12.80 if it trades above $8.00 for twenty one days. This week silver should be volatile and may remain in the range of ..............
Today I am putting copper in the third position as it is very important: a lot of short sellers have been stuck in it. A few powerful traders have been buying it continuously and making a big killing. Tuesday will decide the future fate of copper. Any negative trend on this day will be a confirmation that the short, medium and long term top has been formed. Last week I mentioned that the maximum it can go up is $198.80 and I still hold the prediction.
WAIT FOR MY ALERT ON TUESDAY ON THIS.
Once again, I recommend booking profit in both metals. Palladium may make another new high, but not so for platinum.
Coffee went down as expected in the last week and this week prices should remain range bound. I do not recommend any new shorting in it.
Last week cotton prices were a bit weak but this is a great opportunity to buy.
Last week bonds move up as predicted. This week, they should similarly rise. No shorting is recommended for the thirty year bonds.
For the previous week oil started trading below $57. This is actually a short term buying opportunity. One should buy oil on Monday and await my Wednesday alert. If oil doesn’t move up by Wednesday, this will be confirmation that oil’s strength is over and that it should touch $48.90 on the low side.
Wait for my alert on Wednesday.
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THANKS & GOD BLESS