Gold And Silver: Daily Market Outlook. May 3rd 2012
03 May 08:25 AM
The eurozone’s manufacturing PMI came out slightly worse than expected. Germany’s unemployment and manufacturing production report also disappointed investors. Now it seems that the crisis has reached the heart of the eurozone economy.
The current economic situation may force the ECB into changing its mind and going back to economic stimulation. However, the ECB is unlikely to announce any new stimuli during today’s press conference. Today’s Spanish bond auction is expected to end up with a yield increase.
In the meantime, the US manufacturing orders report showed a less-than-expected decline. The employment change report also came out less than expected, thus suggesting instability in the world’s major economy. Now everyone expects an unpleasant surprise during Friday’s employment report. However, the US economy is still showing some faint growth.
China, Japan and South Korea agreed to expand mutual investments in their T-bonds. The overall bond market of the 3 Asian giants is estimated at $15 trillion. China’s service PMI declined against last month but remained above 50.
India’s import of gold keeps going down. Last month India imported 30-35 tons of gold against 90 tons imported in 2011.
According to the US Mint, April’s gold coin sales were the lowest since 2008.
According to the Commodity Trading Department of Masterforex-V Academy, gold is in a bearish trend. The probable targets are 1640, 1633 and maybe 1625. There is still a chance of testing 1653-1654. However, a further downtrend is more probable. A break and consolidation above 1654 will give way to 1665, 1675.
As for silver, it is expected to test 30.25, 30.0, 29.90. However, a test of 30.60-30.6 is still possible as well. A break and consolidation above 30.65 will give way to 30.75, 30.90-31.0.
Will foreign countries buy Russian oil and gas for rubles or not?
In response to the sanctions of the West related to the annexation of the Crimea to the Russian Federation, Russian exporters want to refuse the U.S. dollar as the main means of payment with foreign buyers of oil and gas. However leading Russian energy players offer different approaches to this issue.
More and more web sources join the growing army of those who spread rumors about Apple and its plans to introduce its own smart watch – iWatch. Apparently, these rumors heat up the interest in this long-awaited device.
YouTube, the world's most popular video hosting is about to get a «younger brother».
The thing is that Google, which owns YouTube, is about to introduce a YouTube version for children. In particular, the representatives of the world-famous tech giant say the new version of the popular hosting is made exclusively for children under 10 years old.
More and more web sources report that Apple is seriously working on a new portable device. It is said to be called iWatch. Until recently, there was no doubt that Apple would introduce its own smart watch.
Apple to Introduce 12-Inch MacBook with Retina Display
Apple is reported to be currently working on a new Macbook. This time it is going to be a 12-inch Macbook with the Retina display. Another new feature is that this laptop is not going to have a cooler inside.
The new mobile device by Samsung called Galaxy S5 has been discussed on the Web for several months already. The device is said to come into market in April 2014. At this point, all the fans of Samsung devices are left to be looking forward to the long-awaited release.
Gammers and Developers Got Interested in Microsoft DirectX 12
At this point, we know enough about DirectX 12 to start comparing and making conclusions. In particular, the developers promise wiser and more efficient use of CPUs and GPUs along with wider hardware support.
Lenovo ThinkPad 8 with 4G Available for preorder in China
Not so long ago (during CES 2014), Lenovo introduced another model of the ThinkPad series. Now, the new device is reported to be available for preorder in China. Apparently, this is the domestic market for the company, and that is why it decided to start the sales form it. Without any doubt the device will become available to other nations in the near future.