Gold And Silver: Daily Market Outlook. April 9th 2012
09 April 08:10 AM
Friday’s US employments stats came out much worse than expected. Despite the economic growth, the rate of employment (especially in the public sector) keeps declining. Analysts are divided over the level that the rate of unemployment will reach in late 2012. At this point, investors are looking forward to corporate quarterly reports in order to estimate the near future of the US economy.
Japan’s balance of payments report came as a surprise, thus showing a decent surplus. The GDP forecast for Q1 2012 is +1.7% (y/y). Analysts expect the Bank of Japan to abstain for extra stimuli during the current meeting, which is to end tomorrow. However, it is said that during the next meeting scheduled for April 27th the central bank will be forced to announce new measures.
China’s PPI came out worse than expected, thus confirming the economic slowdown. The inflation and consumer prices reports exceeded the forecast considerably. The growing consumer inflation may prevent the People’s bank of china from proceeding to further economic stimulation.
Indian jewelers have finally gone back to work after 3 weeks of protests in exchange for the government’s promises to consider the jeweler’s demands concerning the taxation of non-brand jewelry. Some experts say that the recent strike cost jewelers $4B of unmade profits. India’s current account deficit reached the highest level since 1949 in Q1 2012.
Iran confirmed the resumption of the nuclear talks with the West. Another round of the talks is planned to be held in Istanbul later this week.
According to the Commodity Trading Department of Masterforex-V Academy, today gold will probably continue its downtrend down to 1630, and maybe 1625-1620. On breaking below the level, the price gets a chance to reach 1600. However, if the support stays unbroken, the price may rebound and test 1650. In order to resume the rally, the price will have to break and consolidate below 1646. The closest targets of the bullish scenario are 1665, 1675.
As for silver, the price broke below 31.75, which suggests that it is ready to resume the downswing. A re-consolidation below the level will confirm the intension. The targets of the bearish scenario are 31.50, 31.25, 31-30.90. If silver fails to consolidate below 31.75, there is high probability that of a rally up to 32.0. The rally will be resumed only if the price consolidates above 32.0. In this case, the price may reach 32.25-32.50.
US Safety Trap: Will US Dollar and Gold Become Safe-Haven Assets?
All those economic roller-coasters seen since the global economic crisis of 2008 seem to have changed the way traders and investors think.
Before the crisis, they used to be focused on getting some decent return on their investments. The things have changed and now they are focused on avoiding risks and looking for safe-haven assets. Apparently, such an approach minimizes investor profits, not to mention th fact that this approach backs economic slowdowns worldwide. This has turned into a tendency. How can this tendency affect the global economy and financial markets? Which investment instruments will be considered safe-haven assets in th near future? Let's try to find the answers to these questions together with Masterforex-V Academy, Europe's best online Forex training project since 2009.
One of the owners of the smartphone called iPhone 5S told us an interesting story about his gadget. In particular, Reddit (the nickname is Glarznak) claims that iPhone 5S tracks the user's location and motion even when it is off.
According to several web sources, Apple, the world-famous tech giant, is currently looking for the ways and means to expand its developer teams in China (in Shanghai and Taibei). They say the expansion may take place mainly at the expense of major Asian companies like HTC, Quanta and Inventec. In 2013 alone, the amount of Apple employees in China increased up to 600.
The consequences of the deal between Nokia and Microsoft (Microsoft purchased Nokia's mobil business) seem to be scaring such tech giants as Google and Samsung. Market Leader found out what exactly Google and Samsung are afraid of. It seems like the 2 heavyweights in the international mobile industry are getting increasingly worried that the recent purchase of Nokia's mobile business by Microsoft may eventually lead to higher license payments for using the company's patents (which now belong to Microsoft).
What is the difference between traders and investors? Investors can only invest in businesses hoping that the investments are going to grow in value or bring dividends.
On the contrary, traders are more flexible in terms of opening, maintaining and closing a trade (time, lots, asset etc). Investors usually benefit from growth and can only exit their investments in order ot reduce the loss in the worst-case scenario. On the contrary, traders can benefit from any market state (whether the market goes up or down).
More often than not, the so-called «buy and forget» approach to investing can give you higher yield than interest on bank deposit. Still, what if we want more ROI than 10% a year?
PocketBook has recently introduced the world's first waterproof reader. The device is called PocketBook 640. This gadget will show within the scope of the expo called Salon Du Livre, which is to take place in Paris in the near future.
12 months ago, Google made a lot of noise with its new gadget called Google Glass. The device became the focus of global attention even before coming into market. While some countries banned the sales of Google Glass, millions of users were looking forward to them.