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A case of Hantavirus infection was confirmed on June 6 in San Carlos de Bariloche, a famous tourist city in southern Argentina. It is unclear whether the patient is related to the "Hundius" cruise ship where the Hantavirus outbreak occurred.1. All three major U.S. stock indexes closed higher. The Dow Jones Industrial Average rose 1.24% to 49,910.59 points, the S&P 500 rose 1.46% to 7,365.12 points, and the Nasdaq Composite rose 2.02% to 25,838.94 points. The S&P 500 and Nasdaq continued to hit new highs. Disney rose over 7%, and Nvidia rose over 5%, leading the Dow Jones. The Wind U.S. Tech Big Seven Index rose 2.39%, with Google and Tesla rising over 2%. The Nasdaq China Golden Dragon Index rose 3.45%, with Baidu Group rising over 11% and Kingsoft Cloud rising over 8%. 2. All three major European stock indexes closed higher. The German DAX rose 2.12% to 24,918.69 points, the French CAC40 rose 2.94% to 8,299.42 points, and the UK FTSE 100 rose 2.15% to 10,438.66 points. 3. US Treasury yields fell across the board. The 2-year Treasury yield fell 7.02 basis points to 3.863%, the 3-year Treasury yield fell 7.66 basis points to 3.889%, the 5-year Treasury yield fell 8.06 basis points to 3.995%, the 10-year Treasury yield fell 7.62 basis points to 4.346%, and the 30-year Treasury yield fell 5.07 basis points to 4.935%. 4. Most London base metals rose, with LME tin up 9.27% to $54,330.0/ton, LME copper up 1.96% to $13,391.5/ton, LME zinc up 1.16% to $3,409.5/ton, LME lead up 0.03% to $1,973.0/ton, LME aluminum down 1.45% to $3,537.5/ton, and LME nickel down 2.25% to $19,200.0/ton. 5. The WTI crude oil futures contract closed down 5.93% at $96.21/barrel; the Brent crude oil futures contract fell 7.2% to $101.96/barrel. 6. International precious metals futures generally closed higher, with COMEX gold futures up 2.95% to $4,703.10/ounce and COMEX silver futures up 5.77% to $77.83/ounce.Market news: South Koreas Minister of Industry stated that investment plans related to the United States will be announced after June.OpenAI: Uber (UBER.N) uses OpenAI to power its AI assistant and voice capabilities.On May 7, Iranian Parliament Speaker Mohammad Qassem Ghalibaf stated in a televised address to the nation on May 6 that the "enemy" is attempting to exert economic pressure through a naval blockade and manipulate public opinion, aiming to undermine national unity and force Iran to surrender. He urged all levels of Iranian officials and the public to work together to counter this. Ghalibaf added that Iran does not underestimate the possibility of military attacks, especially terrorist attacks, but that the "enemy" plans to weaken Iran from within.

Predictions for the Silver Market: A Turbulent Time Ahead

Alina Haynes

Jul 22, 2022 14:58

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Silver fell during Thursday's trading session, but it recovered after the European Central Bank raised interest rates, which placed downward pressure on the US dollar. I believe it is only a matter of time until sellers re-enter the market and force this commodity lower since this is a market that continues to witness a lot of noisy activity. However, there are many grounds to believe that silver's value will decline below that of the dollar.

 

Silver's demand is expected to remain weak due to low consumer demand. At this point, I believe it is best to "fade the rise," since it will likely be just a matter of time until sellers re-enter the market. We're probably going to break up soon, and the $20 level above should provide a lot of resistance on the way up.

 

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It's conceivable that sellers will enter the market even if we break over the $20 level, and then the 50 Day EMA will come into play. The 50-day moving average (MA) is currently at $20.73, and it's falling. In the end, I believe that many individuals will rush into this market as soon as it shows indications of tiredness. If the price drops below the hammer's base, it would be reasonable to assume that the $15 support level will be quickly breached.


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