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On July 10th, the "Guangdong Provincial Information and Communication Industry 15th Five-Year Plan (Draft for Public Comment)" was released for public comment. The plan includes actively organizing enterprises to participate in national commercial trials of satellite IoT services, planning the construction of an integrated low-Earth orbit constellation for communication, navigation, and remote sensing in the Guangdong-Hong Kong-Macao Greater Bay Area, and actively promoting the deployment of key infrastructure such as satellite-to-ground interconnection centers and gateway stations. It also aims to promote the integrated development of satellite communication and terrestrial mobile communication infrastructure, explore network coverage in low-altitude airspace above 300 meters and remote areas, develop applications such as direct mobile phone connection to satellite and satellite IoT, and accelerate the realization of a million satellite communication users. The plan also includes implementing the "Broadband Guangdong Maritime" special action to gradually build a marine "5G/5G-A + submarine optical cable + satellite" communication and sensing network.A spokesperson for the Government Pension Investment Fund of Japan (GPIF) said they were aware of Finance Minister Satsuki Katayamas remarks but declined to comment.On July 10th, the "Guangdong Provincial Information and Communication Industry 15th Five-Year Plan (Draft for Public Comment)" was released for public comment. The draft includes support for Shaoguans application to become a computing network hub interconnection center, promoting the upgrading and innovative development of the Guangzhou Internet Exchange Center of the Ministry of Industry and Information Technology and the National (Shenzhen-Qianhai) New Internet Exchange Center, accelerating the construction of the Shenzhen-Guangzhou-Shaoguan data corridor, and building a computing power network foundation radiating the Guangdong-Hong Kong-Macao Greater Bay Area. It also integrates into the national computing power interconnection system of "1+M+N," creating regional nodes for national computing power interconnection and multiple distinctive industry nodes. The plan continues to advance the "Millisecond-level Computing" special action in urban areas, actively building a benchmark city for computing networks. Furthermore, it promotes efficient collaboration between data computing, green power grids, and storage, facilitating the coordinated construction of computing centers with new energy sites and power grids, and strengthening computing power interconnection, collaboration, and intelligent scheduling.On July 10th, the "Guangdong Provincial Information and Communication Industry 15th Five-Year Plan (Draft for Public Comment)" was released for public comment. The plan outlines measures to orderly promote the large-scale deployment of 5G-A networks in the Pearl River Delta cities and continuous coverage of hotspot areas; actively participate in the Ministry of Industry and Information Technologys 6G technology trials; and take the lead in 6G network construction and commercial deployment to gain a first-mover advantage in 6G. It also calls for continuously expanding the pilot construction of 10-gigabit optical networks, achieving both quantitative and qualitative growth in key scenarios, and accelerating the upgrading of park networks. Furthermore, it promotes the large-scale deployment of new optical fibers and cables such as G.654E, focusing on the large-scale deployment of 800G optical transmission systems and all-optical cross-connect equipment to build a high-bandwidth, low-latency, and highly reliable all-optical bearer foundation. The plan also deepens the large-scale deployment of Internet Protocol version 6 (IPv6) single-stack. Finally, it actively deploys quantum communication backbone networks and promotes the construction of 400G and above high-speed quantum channels.July 10th - Daiwa Securities economist Yutaro Suzuki stated that Japanese producer prices are expected to rise by more than 5% year-on-year, and crude oil and petroleum product prices are likely to remain high for some time. Data released by the Bank of Japan on Friday showed that corporate goods prices rose 7.1% year-on-year in June. Suzuki stated, "While the recent escalation of tensions in the Middle East warrants vigilance, crude oil prices are expected to gradually decline in the long term as the situation in the region improves." He added, "The corporate goods price index may also decline moderately by the end of the year."

Silver price analysis: XAG/USD declines from a 13-day-old resistance line below $21.00

Daniel Rogers

Mar 13, 2023 11:37

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Silver price (XAG/USD) maintains modest gains near $20.60 as it probes the metal's retreat from a key short-term resistance line on Monday morning. Despite this, the XAG/USD maintains its three-day winning trend and extends yesterday's recovery from the lowest levels since November 4, 2022.

 

Nonetheless, the impending bear cross on the MACD and the bullion's inability to remain above the 200-SMA, not to mention the failure to cross a two-week-old resistance line, give Silver price bears reason for optimism.

 

Consequently, the bullion remains on track to retest the two-week-old horizontal support zone close to $20.40. However, the metal's further decline may make it difficult to break the $20.00 psychological magnet.

 

The focus will then shift to the monthly low of $19.95 and the November 2022 low around $18.85.

 

On the contrary, recovery movements remain elusive unless the XAG/USD remains below the downward-sloping resistance line from late February, around $20.90 at the latest. The $21.00 round number also functions as an upside filter.

 

The previous week's high near $21.30 may serve as the last line of defense for the XAG/USD skeptics if Silver purchasers maintain control above $21.00.