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On August 24th, Nikkei reported that the Japan Green Transition Accelerator (GX) has invested a total of 20 billion yen (approximately US$125 million) in public-private partnership funding for two startups focused on nuclear fusion and plastic recycling. This investment is part of a broader Japanese government plan to inject 370 trillion yen (over US$2.3 trillion) in public and private funds into 17 strategic sectors by fiscal year 2040, a key pillar of Prime Minister Sanae Takaichis growth and decarbonization strategy. The two companies being invested in are Kyoto Fusion Engineering Co., Ltd. and Jeplan Corporation. Details of the investment are expected to be announced soon. Japan hopes to encourage more private sector investment and accelerate the commercialization of advanced technologies by providing public capital.According to Nikkei Asia: Japan is providing $125 million in support to nuclear fusion and recycling startups through a public-private partnership fund.On August 24, according to Irans official news agency IRNA on August 23, Iranian President Pezechzian stated at an event in Tehran on the evening of August 22 that members of Irans Supreme National Security Council all believed that the memorandum of understanding previously reached with the United States was the best solution based on dignity, wisdom, and national interests. The memorandum "contains no clause indicating Irans surrender or concessions," and all related commitments were to be fulfilled by the other side. However, Iran should also rationally extricate itself from its current state of "neither war nor peace," as it is difficult for Iran to attract investment in such a state. He also mentioned that the late Supreme Leader Ali Khamenei had clearly stated the necessity of moving away from this "neither war nor peace" state. Pezechzian further stated that Supreme Leader Mojtaba Khamenei formulated national policies, and the government will continue to advance related work in accordance with these policies.August 24 - The Hawke Fire, a wildfire in the suburbs of Reno, northern Nevada, spread rapidly from the foothills of the Sierra Nevada Mountains toward downtown Reno early this morning, burning more than 10,500 acres and issuing mandatory evacuation orders to nearly 14,000 residents.August 24th - According to a report from the U.S. Central Command on August 23rd, the U.S. guided-missile destroyer USS John Finn is currently sailing in the Arabian Sea, carrying out the U.S. maritime blockade mission against Iran. As of August 23rd, the U.S. military has ordered 70 merchant ships to change course, rendered 3 merchant ships immobile, and boarded and inspected 2 other merchant ships.

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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