Gold And Silver: Daily Market Outlook. May 17th 2012
17 May 07:12 AM
Stock markets lost over $3 trillion on Greek news. The next round of parliamentary elections are seen as a referendum of the eurozone membership. The ECB has suspended the lending for several Greek banks.
Yesterday’s FOMC meeting minutes testify that most FOMC members support further economic stimulation if the pace of economic growth slows down. The manufacturing production is growing better than expected. The production capacity index has increased as well. President Obama insists on raising the borrowing limit for the US Government without additional public spending cuts.
Japan’s GDP report came out better than expected. The manufacturing production report showed some growth as well. Analysts expect China to resume the high pace of economic growth.
Amid the eurozone uncertainty and the rumors connected with another round of quantitative easing, the demand for gold and other precious metals increased yesterday.
According to Asian dealers, platinum is getting more popular with Indian jewelers. The reason is that platinum has recently been traded at a discount as compared with gold. This tendency is clearly seen in big cities.
According to the Commodity Trading Department of Masterforex-V Academy, today gold may continue its rally if the price consolidates above 1549. If this is the case, the closest targets will be around 1560, 1575, 1595. A failure to consolidate above 1549 may result in a test of 1540. If an H1 price bar closes below 1536 the probability of going down to 1510, 1500 will increase.
Silver is expected to test the 27.75 resistance. On consolidating above 27.8, the price may rally further up to 28.0, 28.25. Alternatively, a failure to consolidate above 27.80 will probably resume the downtrend with targets around 27.40, 27.25. A break and consolidation below 27.15 will intensify the downswing. In this case, it may well touch 27.0, 26.75, and even 26.50.
Not so long ago, Google published another quarterly report. This time the figures for Q1 2014 turned out to be not as good as expected, thereby disappointing investors. All in all, the was a year-over-year increase. Still, investors found something controversial about the figures, which ultimately resulted in a bearish move in the market of Google's stock.
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.