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.
Samsung Will Introduce Smartphone With 20-Megapixel Camera In 2014
Samsung, the world-famous South Korean tech giant is said to be planning to introduce a new smartphone with powerful hardware specifications. The developers will create a brand-new model, Market Leader reports.
According to several sources, Sony Corp has already managed to sell over 2 million copies of Sony PlayStation 4, the long-awaited game-console since the very start of the official sales (November 15th).
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.