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Wednesday, 23 August 13:27 (GMT -05:00)



Stock and commodities markets

Gold And Silver: Daily Market Outlook. May 3rd 2012


 

 

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.
 
Forecast.
 
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.

 


 

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S&P 500 Becomes Most Profitable Assets Since 2008 Financial Crisis

Deutsche Bank analysts have complied the list of the most profitable financial assets over the last 10 years. S&P 500 is recognized the best asset for long-term investments. Those who have been investing in this asset since 2007, now can enjoy slightly over 100% on top of their investments, the experts report. American junk bonds yield to S&P 500 in terms of profitability. As of the Russian stock market, it’s one of the outsiders.

 

 

 

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The Dow Jones Industrial Average (DJIA) is reported to have set a new all-time record. For the first time in its history, the index has exceeded the 22K threshold.

 

 
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Crude Oil Plunges Below $45/b

Oil prices keep on going down. Yesterday, for the first time since November 2016, the price of Brent oil dropped below $45/b. to be more specific, later on the trading day, a barrel of Brent oil cost $44,63 in London (ICE Futures). This means that the price dropped by 3% over the trading day. A day before, the trading session ended up with $46,02/b, NordFX reports. This is the lowest price since November 15, 2016.

 

 
Publication date: 21 June 11:36 PM

Trading Week Starts with Oil Price Drop

On Monday, June 19, crude oil is getting cheaper worldwide. Experts say that the price drop has to do with the recent report on the amount of oil rigs in the United States. In particular, the report says that the amount of such rigs has grown over the last week.
 

 

Baker Hughes reported on June 16 that 6 new rigs had been activated over the reporting period, thereby setting a new major high – 767 units, which is the biggest amount of functioning oil rigs since April 2015. By the way, the amount of oil rigs has been continuously growing over the last 22 weeks, which is also the new 30-year record.
Publication date: 19 June 02:27 AM

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The Qatar crisis failed to push oil prices higher as expected by those who had previously extended the so-called Vienna Accord. Yesterday, on June 7, the global market of crude oil got feverish. The reasons for that was all about the tensions around Qatar, which is an oil exporter from the Persian Gulf.
 
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According to the experts working for Analytical Credit Rating Agency (ACRA) from Russia, the long-awaited extension of the so-called Vienna Accord signed by OPEC and some of their non-OPEC peers led by Russia may eventually result in higher oil prices along with eliminating the long-lasting oversupply in the global market of crude oil. This is what the experts stated in the recent report on the prospects of the Russian oil industry until 2021.
 
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As you probably know, last Thursday, OPEC and their non-OPEC fellow decided to extend the so-called Vienna Accord during the recent summit in the capital of Austria. The mentioned agreement implies cutting oil production in order to back higher oil prices in the near future. The agreement was extended for 9 months – until the end of March 2018.

 

 
Publication date: 01 June 04:09 AM