Last Updated : 03 August 2009 at 16:45 IST

Lunar eclipse bad for US dollar, positive for gold

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MUMBAI (Commodity Online): The lunar eclipse on Thursday (August 6) will turn out to be favourable for bullion but bad for US dollar and equitiies

The eclipse will be completely visble over Africa, Europe and South America. It could also be seen over eastern, North America and setting over Asia.

According to an analysis by Lt Col Ajay, CEO of www.astromoneyguru.com, the lunar eclipse will have a great impact on currencies and commodities market in general.

In Hindu mythology, Rahu is a snake that swallows the sun or the moon causing eclipses. In Hindu Astrology, both Rahu and Ketu are known as two invisible planets. They are enemies of the Sun and the Moon, who at certain times of the year (during conjunction or opposition) swallow the Sun or the Moon causing either a solar or a lunar eclipse. In Sanskrit this is known as grahanam or seizing.

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Legend has it that once the gods and the demons formed an alliance to produce a nectar that could give them immortality. This is the story of the churning of the milk-ocean and the descent of Lord Visnu as the Kurma avatara, the divine tortoise. When the nectar that was churned from this ocean was being served to the gods, a demon, disguised as a god, sat between the Sun and the Moon in an attempt to procure the nectar. When he was detected by the Sun and the Moon, Lord Visnu immediately severed his head from his body. Unfortunately, it was not fast enough, for the demon had already tasted a small quantity of the nectar and had become immortal. Ever since, this demon is said to wreak vengeance on the Sun and Moon whenever they come near. The head of this great demon is known as Rahu and his tail is known as Ketu.

As per astro-economics whenever Sun and moon are effected with Rahu and Ketu that brings biggest volatility in world currencies and commodity market. Bullion is expected to shoot up on lunar eclipse in spot and futures and prospects for Euro look positive while US dollar could weaken, Lt Col Ajay said. Post lunar eclipse period is favourable for Crude Oil in both spot and futures markets.