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Gold And Silver: Daily Market Outlook. May 17th 2012

Gold And Silver: Daily Market Outlook. May 17th 2012

 

 

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.
 
Forecast
 
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.
 

 

 

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Russian Economy Will Crash If Oil Drops Below $2,5/b

It is common knowledge that the Russian economy heavily depends on the export of crude oil and natural gas. Based on the current situation in the global market of crude oil, the international expert community sure that if the price of crude oil goes below $22,5 per barrel, the Russian economy and financial system will crash.

 

Publication date: 31 August 09:28 AM

Oil Prices May Drop Down To $30/b

 

Crude oil keeps on going down in value. At this point, both WTI and Brent prices have been going down for 3 months in a row. As stated in the previous forecast, crude oil reached $50/b in July, which was followed by a market plunge all the way down to $41/b.
Publication date: 26 August 03:56 PM

CRUDE OIL: WTI Drops To $42/b

 

The global market of crude oil keeps on crashing as the U.S. Dollar is going up in value and the global oversupply of crude oil is still growing amid lower demand for it.  At the same time, the U.S. crude oil inventories are getting more massive, which is an other bearish factor exerting downward pressure on oil prices.
 
Publication date: 13 August 06:09 PM

Gold and Oil Prices Plunge As Chinese Yuan Sees Devaluation

 

Sensational data coming from China have been affecting financial market so far. Amid the devaluation of the Chinese Yuan, commodities are going down in value as well, including gold and crude oil, Market Leader reports.
 
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No Expensive Oil For Years, Traders Say

 

In late July – early August, crude oil resumed its downtrend again. In particular, the prices crashed all the way down to January’s lows. The price of a barrel of Brent oil is now fluctuating around $49-$50, which is twice as cheap as 12 months ago.
Publication date: 11 August 04:44 AM

Apple iPhone 6s Production May Be Delayed

 

According to the analysts of KGI Securities, which have been sharing relatively reliable insider information regarding Apple products, now claim that the production of Apple iPhone 6s and Apple iPhone 6s Plus is going to be delayed, the Hi-Tech Department of Market Leader reports.
Publication date: 10 August 04:29 PM

WTI Oil Drops To $43,27/b

 

The never-ending downtrend in the market of crude oil is still underway, Market Leader reports. As the oversupply is going bigger and bigger and the demand for crude oil is still at its lows, crude oil is going down in value. In particular, WTI oil dropped down to $43,27 per barrel at the end of Monday’s trading session.
 
Publication date: 10 August 04:14 PM

OPEC Planning Another Emergency Summit As Oil Prices Crash

 

OPEC doesn’t deny the possibility of holding another emergency summit in the near future. At this point, OPEC members are reported to be discussing the issue. According to Masterforex-V Academy the major reason why OPEC is planning the summit is the fact that oil prices resumed its downtrend while experiencing downward pressure coming from the increasing oversupply of crude oil in the global market.
 
Publication date: 10 August 10:35 AM

Crude Oil: WTI Prices Drop Below $45/b

 

The never-ending bearish trend in the global market of crude oil is still underway. Yesterday, at the end of the trading day, the price of WTI crude oil declined below $45 per barrel, Masterforex-V Academy reports.
 
In particular, at the ned of the American trading session, WTI (West Texas Intermediate) saw a 1.7% drop and broke through the $45/b support on its way down to new local lows. The trading day closed at $44,81/b. Masterforex-V Academy reports that this is the lowest price since March 19th, 2015.
Publication date: 06 August 05:07 AM

China Still Cannot Cap Stock Market Crash

 

Despite the fact that Chinese authorities have been doing their best to save the local stock market from seen an even deeper crash, there efforts have been inefficient and uncoordinated and have failed so far.
Yesterday, on August 4th, the Chinese government held an emergency summit together with the leading financial experts in China. The Prime Minister urged the expert to work out an efficient solution to cap the crash until it is too late. At the same time he insists on tighter cooperation between the People’s Bank of China, the Chinese Ministry of Finance as well as stock market regulators and major banks.
Publication date: 05 August 11:54 AM