Gold And Silver: Daily Market Outlook. April 17th 2012
17 April 05:55 AM
The US retails sales grew more than expected. The Federal Reserve’s focus is on the current condition of the US economy, which can either confirm or disprove the positive US employment stats.
The eurozone’s trade balance showed a surplus. However, the surplus turned out to be less substantial than expected. Today Spain is to start another bond auction. Investors are concerned about the fact that last month Spanish banks had to borrow from the ECB as much as 316B euro.
Japan is ready to supply the IMF with $60B in order to help the eurozone resolve its debt crisis. Japan’s manufacturing production report came out worse than expected.
The direct investments in China have been shrinking for the 5th consecutive month despite the central bank’s efforts to increase the quotes for foreign investors. China has increased the purchases of US bonds for the 2nd month in a row.
Amid China’s economic slowdown, the RBA is ready to cut the interest rates if the there is an inflation decline.
Iran seems to be ready to resolve all the nuclear issues with the Western powers if they ease the sanctions. Israel keeps urging Iran to stop uranium enrichment completely.
Yesterday’s trading volume in the market of gold was one of the lowest in 2012. The СОМЕХ report showed a sharp increase in silver reserves amid higher production of silver and lower demand for it. The silver reserves are around the 10-year record.
According to the Commodity Trading Department of Masterforex-V Academy, today gold may continue its downtrend to 1645-1644 after consolidating below 1650. If the price consolidates below 1643 it will give way to 1625, 1620, and maybe 1610. Alternatively, if the price fails to consolidate below 1650 and consolidates above 1653, it will get a chance to rally up to 1660. In order to resume a major rally, the price will have to break and consolidate above 1660.
Silver continues its downtrend. Once an H1 price bar closes below 31.35, the price may go further down 31.25, 31-30.90, 30.50. Alternatively, a failure to consolidate below 31.35 and a break above 31.45 will increase the probability of testing 31.75.
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.