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Gold And Silver: Daily Market Outlook. April 17th 2012


 

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.


 

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OPEC Fights USA’s Shale Oil, Not Russia?

 

At tis point, the biggest event in the global oil market is the latest OPEC summit. This is believed to be the major reason why crude oil prices keep on going down. Well, it is hard to disprove this supposition since the price started instantly falling down after the OPEC announced its decision to remain its oil production unchanged at 30 million barrels a day. This took place during the latest summit in Vienna on November, 27th.

Publication date: 16 December 12:17 PM

OPEC: Preserving Oil Production Isn’t Aimed Against Any Particular Nation

 

The Secretary General of the OPEC says the OPEC’s decision to leave their oil production volume unchanged is not aimed at hurting any particular country, including Russia and Iran. This is what Market Leader reports.

Publication date: 16 December 05:26 AM

Sanctions and Low Oil Prices Lead to Major Consequences for Russian Economy

It is not a secret that all those Western sanctions imposed on Russia by the USA and its Western allies used to be considered with a smile by most Russian politicians. Now we can see that the consequences are getting more and more serious and Russian politicians do not want to smile anymore. The projections become gloomier amid depreciating oil prices. Apparently, the Russian economy, which is heavily dependent on the export of oil and natural gas, couldn’t but feel the outcome, Masterforex-V Academy reports.

Publication date: 16 December 02:47 AM

Samsung Works on A9 Processor for iPhone 7

 

Several web sources report that Samsung, the world-famous tech giant from South Korea, is currently working on the next-generation processor for future Apple devices. In particular, it is said that the new processor is called A9 and it is going to be used in the next version of iPhone, which is probably going to be named iPhone 7, Market Leader reports.

Publication date: 15 December 11:30 AM

Russian Expert Says Ruble Collapse Will Trigger Economic Collapse In Russia

 

As you probably know by now, the latest OPEC summit, which took place more than a week ago, ended up with the OPEC members abstaining from cutting down on their oil production, there leaving it at 30 million barrels a day in total. Apparently, this has been one of the key drivers pushing oil prices down to new multi-year lows.

Publication date: 13 December 05:26 PM

Crude Oil Prices Go Below $62/b

 

The negative correlation between the supply and demand in the global oil market seems to keep on exerting downward pressure on oil prices around the globe. In particular, the Commodity Department of Masterforex-V Academy reports that the global oil supply is still growing as oil producers abstain from cutting down on oil production amid shrinking global oil demand backed by an economic slowdown. With that said, Market Leader reports that the average price of crude oil is down again. It is currently below $62/b. This is the lowest oil price seen since the latest global crisis.

Publication date: 12 December 04:50 PM

US Stock Indexes Decline on Weak Figures from China

 

On Monday, December 8th, the USA’s major stock indices went down in value after China published disappointing economic figures, Market Leader reports. The thing is that a couple of days ago, China revealed its trade balance figures for November. According to it, the country’s import went sharply down by 6,7% relative to October’s value. Apparently, the figures indicate weak consumer demand in China. At the same time, the export also declined by 4,7%. According to Masterforex-V Academy, the latest figures may give us to understand that the Chinese government is about to start more active stimulation of the national economy.

 

Publication date: 11 December 02:50 PM

Fitch Downgraded Global GDP Forecast By 0,1%

 

The international rating agency known as Fitch Ratings has just downgraded its forecast for the global GDP growth in 2014, 2015 and 2016 as opposed to the similar prediction made in September, Market Leader reports. 

 

In particular, the financial experts working or Fitch Ratings assume that the global GDP is going to remain unchanged this year at the level of 2,5% while the growth rate in 2015 and 2016 are expected to reach 2,9% (+0,4%) and 3% (+0,5%) respectively.

Publication date: 09 December 07:59 AM

US Stock Indexes Gain Value After Fed’s Announcements

 

The US stock index futures are still going up in value. The tendency has been underway since yesterday, when the Fed’s Janet Yellen gave everyone to understand that the probability of interest rate hikes within the cope of the next 2 FOMC meeting is close to zero.

Publication date: 08 December 10:16 PM

HTC Will Release Windows-Powered Hima Dvice

 

Last week, several web sources reported that the Taiwanese manufacturer of computer electronics known as HTC is going to introduce a new mobile device named Hima. On top of that, the device is going to come have several implementations, Market Leader reports.

Publication date: 08 December 08:39 AM