Review: Gold, Silver and oil prediction for week August 24-28,2009.

Please note that in reviewing these predictions we are using sepember futures chart for each of the three commodities traded on NCDEX. No MCX chart is available  for the week. Read last portion from aug 24-28.( Green line indicates gain over previous day closing , red line-loss over previous closing, length of green or red line-intra day variation, two points on each line shows opening and closing value of futures-zoom in to see). Spot prices may have different variation when quoted in $ terms

 

 

Prediction as posted on aug 24

Gold, Silver and oil prediction for week August 24-28,2009.

1Gold Likely to gain after initial correction. Buy upon monday-tuesday correction till mid week. a mixed volatile week.
Eval: Gold after monday correction and volatility during the week generally moved up but best prices were available by end of week.Chart 1

2. silver: Short futures on any intra day gain at begining of the week for gains. Gains may appear by mid week to end week when intra day correction is possible for both gold and silver
 

eval: shorting silver futures was profitable till tuesday. Better to have bought futures till end of week .chart 2
3. Crude oil: Buy futures on early week correction as crude oil may gain over the week.

eval: Crude oil corrected most severly on tuesday but moved up amidst volatility.More profits could be made by shorting early on in the week