Gold And Silver: Daily Market Outlook. April 26th 2012.
26 April 08:59 AM
The Federal Reserve has left the key interest rate unchanged. During the recent interview, Ben Bernanke confirmed the bank’s record-low-rates policy till the end of 2014. The Fed Res looks determined to act if the economic situation worsens. The central bank has improved its forecast for the US economic growth in 2012, simultaneously confirming that the rate of inflation is within the target rage. The forecasts for 2013 and 2014 are downgraded due to heavier taxation and more substantial spending cuts.
Yesterday the US stock gained on positive quarterly reports and Bernanke’s speech. However, the demand for the US T-bonds increased as well. The results of today’s bond auction will probably clarify the situation. There are suppositions that the market will be looking for signs of an economic slowdown in today’s unemployment report.
In the meantime, most Spanish banks have passed the stress-tests arranged by the IMF. Mario Draghi, ECB President, urged the eurozone authorities to implement structural reforms in order to support the economic recovery in the area. Angela Merkel backed this idea.
The Japanese authorities keep urging the Bank of Japan to continue stimulating the national economy. All the economic sectors showed poor performance (worse than expected).
Yesterday gold prices recovered and showed intensions for further growth. Asian dealers report that India’s gold export shrank by 50% y/y. The eurozone crisis and political risks around the world will be the major market drivers.
In particular, North Korea is “playing” with its missiles, threatening its southern neighbor. The nuclear tests may resume anytime. Pakistan has recently tested its mid-range ballistic missiles, which are capable of carrying nuclear warheads.
According to Commodity Trading Department of Masterforex-V Academy, gold prices keep rallying. The probable targets are 1657, 1664, 1675. A test of 1642 is expected throughout the day, if successful, the price may reach 1638 and 1633.
30.90 is the closest major level of resistance for silver, a re-test is expected. If an h1 price bar closes above 30.90 we may see a rally up to 31.0, 31.25. A failure to consolidate above 30.90 may result in a rebound down to 30.35, 30.25. A break and consolidation below 30.35 will give way to 30.0, 29.90.
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.
According to several web sources, Google, the world-famous tech giant, is currently working on a new superfast network. The experts working on the project are reported to be ready to test the network to amaze the audience with its speed.