Gold again under $1630 - a good moment to buy

Gold is again under $1630. A good moment to buy. I think we will have at least $1650 till the end of this week. So I think is will be a good deal to make $15-20 profit per troy ounce. In past weeks there were much moves in the range $1630-1650 so trading in this zone has brought good income for intra-day traders.

I think now gold is influenced by the instability in Europe that makes the dollar more attractive as a type of semi-safe haven. When the dollar is going up, it happens the commodities to go down. But generally the pressure to gold is bullish. It is still devaluated, if compared with the increase of money-supply on all markets. So every move down is a chance of buying and profiting from the fundamentals that will return the price up.

Dobri
May 8th 2012 9:51 a.m. GMT

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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.

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