In January I blogged about Mahendra's bearish forecast for gold, silver, and oil. As you know, Mahendra is an astrolger and prophet from Kenya who issues financial predictions.
Good thing I ignored his predictions, because gold and silver have risen substantially since January. Gold was below $550 the week of January 13th, and closed Friday at $587.80 . Silver was in the low $9 range that week and on Friday it closed at $12.05. Oil did go down a bit in February but it's back up to $67.43 for WTI on Friday. It certainly was nowhere close to Mahendra's predicted bottom of $44.80.
Interestingly, the link to the bearish prediction on his website no longer works. Hmmm.
It's a good thing I ignored Mahendra and held on to my oil and precious metals.
I agree Mahendra has been of wack for sometime now
Posted by: Nicolas Allende | April 25, 2006 at 09:12 PM
What did you expect
I have been reading the Website for a while and kept a good deal of his recommandations as records
And let me tell you .... He has been out of line. Period
Posted by: Myself | November 07, 2006 at 09:38 PM