Gold at $1584 - buy, buy, buy


My yesterday's prognosis looks wrong. I advised to buy gold at $1630, and now it is $1584. So what can I say than to buy more. If I believed $1630 is a good price, therefore $1584 is even better. 

In fact, you don't make losses until you sell it. In mid and long term I think gold will go up, as there is a strong and constant inflation pressure. So if you succeed in keeping your gold, you will see levels above $1630, and even above $1650 soon. 

What is happening on markets? Very simple - a confusion. EU is stressed by French elections and by Greece political chaos and closing default. So euro is losing ground against the dollar. When dollar goes up, usually gold and oil go down. I don't think FED will allow the dollar to strengthen too much. So just wait and don't panic...

May 9th 2012 11:28 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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