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On August 28th, Ko Nakayama, an economist at Okasan Securities, stated that the latest consumer price data from Tokyo shows the increasing impact of rising oil prices due to the Middle East conflict. The data indicates widespread price increases in everyday household items such as facial tissues, toilet paper, cling film, plastic bags, and kitchen paper towels, suggesting that cost pressures from Middle East tensions may be more broadly transmitted to commodity prices. This aligns with the Bank of Japans view that the impact of rising oil prices will become apparent around the summer. Overall consumer prices in Tokyos wards rose 1.9% year-on-year in August, higher than Julys 1.8%.August 28th - From 8:00 AM on August 27th to 8:00 AM on August 28th, according to monitoring by the Guangxi Hydrological Center, moderate to heavy rain fell in parts of Beihai, Guilin, Liuzhou, and Hechi, with localized areas experiencing torrential to extremely heavy rain. The highest daily rainfall was recorded in Yintan Town, Yinhai District, Beihai City, at 150.0 mm. At 8:00 AM on the 28th, 20 stations on 14 rivers in Guangxi, including the Yujiang, Zuojiang, and Mingjiang rivers, exceeded warning levels by 0.01 to 5.82 meters. The Guangxi Hydrological Center predicts that in the next 24 hours, the Guigang urban section of the Yujiang River will experience flooding exceeding the warning level by approximately 3.0 meters; the Qingshui River (a tributary of the Hongshui River), the Wuming River (a tributary of the Youjiang River), the Xiangjiang River, the Guijiang River, and the Qinglongjiang and Linglijiang Rivers (tributaries of the Yujiang River) may experience rises of 1 to 3 meters. Significant rises in water levels are possible in some small and medium-sized rivers in cities such as Hechi, Baise, Chongzuo, Nanning, Laibin, Guigang, Yulin, Beihai, Qinzhou, Fangchenggang, Guilin, and Liuzhou.On August 28th, at a press conference held by the State Council Information Office, Vice Minister of Commerce Yan Dong stated that during the 15th Five-Year Plan period, the Ministry of Commerce will further implement the action plan to upgrade and expand the service industry, accelerate the innovative development of service trade, promote the opening up and cooperation of the service industry, and cultivate more "Chinese service" brands. We will focus our efforts on the following three aspects, which can be summarized as "three new aspects." The first "new aspect" is accelerating the cultivation of new drivers of trade. The second "new aspect" is steadily expanding new market space. The third "new aspect" is actively promoting new improvements in the business environment.Moscow says drones attacked oil product warehouses and apartment buildings in Sevastopol, which is under Russian control.On August 28th, the Guoguang Quantum AI Research Team introduced relevant quantum technologies into the decision-making and reasoning processes of large language models, and launched the Xuanmi Large Model family for scientific research and academia. In specific tasks such as scientific research popularization, routing, and agent decision-making, Xuanmi demonstrates more stable professional understanding, clearer task judgment, and shorter decision paths compared to mainstream open-source models.

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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