Don't sell gold if bought at $1645, just buy more at $1627

Although my yesterday's prognosis did not bring profit, it also did not bring much loss. The gold price at the moment is $1627 that is $18 below the $1645 that I thought as good to buy. I don't advice to sell at that price, as I think till the end of next week gold will be again above $1645 and eventually opened yesterday positions will be at least at zero.
In fact, if you have free capital to invest I would advice again to buy at $1627. It is a cheap gold and if you can keep it long enough, you will make profit.
I think it is good to buy gold before this weekend as next week can become a political turmoil mess. If in France is to come a socialist President, and in Greece to come a 10-parties Parliament, there will be much uncertainty that can pump the gold price up.
If Sarkozy succeeds to keep his office, this can fire a temporary optimism on markets that will pump everything up, and the gold too.
So my advice is - don't sell gold now. It is a time to buy...

May 4th 2012 10:54 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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