It is good to buy gold at $1645

Today an ECB interest rate will be announced, and also - a press conference with Chairman Draghi expected to comment the EU debt crisis and if the Central bank will act more active.
Also today, an unemployment data from USA will come.
So what about the markets?
I think it is a good moment to buy gold. Levels at $1645 are low enough for a good deal.
Why I think so?
Euro has lost some value in past days. So the bearish potential is exhausted to some extent. Therefore whatever happens at ECB meeting and with US unemployment, it is more probable the Euro to rise therefore the dollar to go down, and commodities to go up.
If the opposite happens then it should be backed by some surprising pro-crisis factors. For the Euro to go down, with some potential already exhausted, it will be needed a stronger that normal crisis factor. But if such a factor appears it will also pump the gold price up due to the search for save haven by investors.
So my forecast is that gold will go up from $1645, so it is good to buy...

Dobri
May 3rd 12:30 GMT


Was this prognosis right? Look at the results analysis...

-------------------- 

Dobri's prognoses are not regular forecasts of markets, but forecasts at moments when Dobri believes the processes are predictable. Generally most of the time the markets are unpredictable. But sometimes there are factors that well analyzed can lead to a good prediction. So these are the Dobri's prognoses.

Powered by Bullraider.com

Free business joomla templates