The situation around Iran remains tough. Yesterday a US citizen of Iranian descent was sentenced to death for spying. Today Timothy Geithner is on his visit to China. He is expected to ask China to back the sanctions against Iran. According to Dennis Ross, President Obama’s former Mideast advisor, the USA is ready to attack Iran in order to cease its nuclear program. Goldman Sachs has increased its oil price forecast for 2012.
The data on China’s external trade for December 2011 showed a major import/export decline as compared with the forecast. China’s foreign trade turnover in 2011 hit the all-time record of $3.6 trillion. However, the balance-of-trade surplus declined down to 3-year low ($115B).
The Federal Reserve is planning to arrange a press conference. Investors will be looking for hints at the Fed Reserve’s further economic stimuli. In November 2011 the US consumer lending hit the record level (+$20.37B).
In the meantime, Angela Merkel and Nicola Sarkozy met in Berlin. The parties agreed on all the issues in advance of the next EU summit scheduled for Jan 30th 2012. This week Spain and Italy are expected to hold their own bond auctions as investors will be focused on the bond yield. These auctions can influence France’s credit rating as French banks are major holders of these bonds. Today Angela Merkel will meet with the IMF President.
According to Goldman Sachs, the current macroeconomic situation around the world suggests an increase in gold prices up to $1940/oz by late 2012. Asia keeps seeing steady demand for physical gold.
Forecast: According to the Department of Commodity Trading of Masterforex-V Academy, after declining within a range for a couple of days, today gold is ready for a rally. It is currently above 1617-1617.5. However, the price still may test 1610. The closest targets are 1627, 1630, then 1640-1641, and maybe even 1668.
As for silver, in order to resume its rally, the price needs to consolidate above 29.30 in order to reach 29.50 and 29.75. A break above December’s high will give way to 30. A failed test will initiate a downswing to 28.9-29, and maybe even 28.7.
Curesec, a German company engaged in cybersecurity, reports that Android 4.3 Jelly Bean is vulnerable to hacker attacks. There is a vulnerability in the system that makes it possible to deactivate the lock of any mobile devices (smartphone or tablet) powered by this very version of Android OS. This leads to hack opportunities.
Apple, the world-famous tech giant, is reported to start cooperating with Yandex, Russia’s biggest internet company. In particular, Apple has recently connected Apple Online Store to Yandex.Market, the online marketplace of the Russian-speaking internet community.
According to several Russian sources, Apple may decided ot open one or several Apple Stores in Moscow. At this point, Apple hasn't commented on the matter, therefore the news can be considered a rumor at this point.
According to Mobile Syrup, LG G2, the popular mobile devices manufactured by LG, is going to see a software update. In particular, the company is planning to release the OS update up to Android 4.4 KitKat. The web site refers to the sources affiliated with the company. The even is going to happen in the first quarter of 2014.
Global sugar prices have been gradually declining since early 2011. In particular, in February 2011, the price of sugar reached the high at 36,08 cents per pound while in lat 2013 the price is down by 50% and is trading around 17-18 cents per pound, Market Leader reports.
Despite the fact that Google has its won operating system Chrome OS that powers laptops, more and more employees of Google prefer the products manufactured by another American tech giant, which is Apple.
The North American market of natural gas is subject to seasonality more than any other NG market. It usually sees higher prices in winter, which is natural since more NG needed during the heating season. The seasonality is reflected in NG futures prices shown by New York Merchantile Exchange (NYMEX).
Next year, Samsung, the world-famous South Korean manufacturer of computer electronics, will introduce several interesting mobile devices. The tech giant is planning to produce something interesting and extraordinary. At the same time, the company will renew several existing devices.
On November 27th, Nokia officially announced a new low-cost smartphones Lumia 525 – the successor of Lumia 520. The event took place in Singapore. This is the new version of the most popular Windows-powered smartphone.