Celestial Lucre ; It's Economics for Most. For Others, the Future of Commodities Is Written in the Stars.

Business Today › July 13, 2007

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Summary

When Manoj Jain, a Hyderabad-based bulk bullion dealer, frantically called up Anurag Tripathi, a Mumbai-based commodity analyst on a hot June morning, the question was the usual "Should I buy silver?", as the prices seemed to be showing an upward turn after a flat run. Tripathi warned him not to touch the white metal. "It's likely to show a dip in the next two days. I think you should wait for some more time," he advised. Nothing unusual in that apart from the fact that Tripathi's reasoning was based not on the usual parameters of technical price analysis, global demand and supply, and fluctuations; but on planetary calculations. His advice to Jain: "Venus is sitting in Cancer at the moment. As a result, prices will continue to slip or remain flat. It's worthwhile to wait for a more opportune moment."

Yes, believe it or not, investors and traders actually sometimes suspend their faith in fundamental and technical analysis and put their money where the stars dictate. Sceptics and rationalists will frown at this logic, but Jain followed the advice and did not buy the white metal. Tripathi's is the last word for Jain, whose family has been tracking stars for trade-related advice for more than four generations. Explains Tripathi: "Silver is usually under the influence of Venus and has a moon sign of Cancer. Since Venus is a soft and kind planet, when it passes through Cancer, which is the zodiac of silver, it has a soothing effect on the metal. The impact of a tender planet on a metal usually translates into a fall in its price."

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Celestial Lucre ; It's Economics for Most. For Others, the Future of Commodities Is Written in the Stars.

Tripathi and others of his ilk have a sizeable following among commodity traders. "If Venus cruises through a harsh zodiac like Leo, there will be a bullish effect on the metal and prices will shoot up in the short term. Also, if Venus along with Sun passes through Cancer, it will have the same effect," says ...

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