Gold And Silver: Daily Market Outlook. April 20th.
20 April 05:30 AM
France and Spain accomplished their bond sales plans during yesterday’s bond auctions. They sold their bonds to the amount of 7.97bn and 2.5bn euro correspondingly. Despite the fact that the demand was higher than the supply, Spain had to agree on a higher yield. Yesterday’s auction covered almost 50% of the Spanish bond sales plan for 2012. Analysts assume that Spain and Italy will be able to do without external financial support.
The eurozone debt crisis is the major issue on the agenda of the current G20 meeting. The finance ministers of Canada, USA and Australia together with the IMF urged Europe to take more active steps in order to resolve the debt crisis. The IMF representatives say they have already accumulated $320bn in order to help the eurozone if needed.
The People’s Bank of China is expected to lower the rates in the coming weeks (usually this takes place during the weekend). Copper traders start going bullish, which also suggests higher consumption on economic stimulation.
During the G20 summit, the BoJ Governor confirmed the central bank’s intention to get down to more aggressive monetary easing.
Yesterday’s US unemployment data came out higher than expected while the manufacturing production report showed a major decline. This confirms the instability of the US economic growth, thus giving more weight to next week’ FOMC meeting.
The GFMS expects the industrial demand for silver to increase by 3-5% this year mainly for the sake of replenishing the silver reserves, which ran low on expectations of another major recession.
According to the Commodity Trading Department of Masterforex-V Academy, today gold is moving within the 1640-1651 price range, further consolidation within the range is highly probable during the day. A break and consolidation above 1651 will trigger the bullish scenario up to the probable targets located at 1660 and 1675. A break below 1641 will trigger a downswing. The closest major levels of support are located at 1625 and 1610.
On breaking above 31.8, the price will probably rally up to 31.95-32.0. A break above 31.95 will give way to 32.25-32.30, 32.50. Alternatively, a failure to consolidate above 31.95 will make the price rebound down to 31.7-31.75. On breaking below 31.65 the downswing will intensify, thus probably reaching 31.50, 31.25.
Samsung, the world-famous tech giant from South Korea, has just released a new mobile device. This time it is called Samsung Galaxy Core Advance. Experts say that this device will probably enjoy huge success among mobile phone users .
Samsung Introduces Galaxy Note 3 Lite With PLS Displays
Samsung, the world-famous South-Korean manufacturer of computer electronics, keeps introducing new mobile devices along with updated versions of some older devices. This time, the company decided to experiment with Galaxy Note 3.
More and more media sources report that iPhone %S has become freely available worldwide since there is no deficit anymore. Not so long ago, Apple Stores used to be barely catching up with the amount of orders. Some people had to wait for weeks until getting the desired gadget.
Microsoft Windows 8.2 Will Get “Start” Button Back
Microsoft Windows 8.2 is likely to be available in the near future. In particular, Microsoft is about to bring back the classic menu with the “Start” button. The update promises to be interesting. At this point, some web sources report that the code name of the new operating system is Threshold. Some experts say that the new Windows operating system will come into market only in 2015.
Apparently, the international show called CES 2014 will bring a lot of surprises. The show is scheduled for early 2014. The participating companies have already started preparing for the expo. Huawei, a major manufacturer of computer electronics is one of such companies. Not so long ago, the company got a patent on PhoPad!