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The Israel Defense Forces have detected a new round of ballistic missile attacks from Iran, targeting central Israel.March 31st - Despite the recent sell-off in gold prices, Goldman Sachs maintains its bullish view on gold, predicting a renewed upward trend by the end of 2026. Analysts Lina Thomas and Daan Struyven stated in a report that the medium-term outlook for gold remains solid. Gold prices are expected to reach $5,400 per ounce due to continued central bank gold purchases and two more expected US interest rate cuts this year. They noted that gold prices still face "tactical downside risks" in the short term, potentially falling to $3,800 per ounce if energy supply shocks worsen further. Nevertheless, if the Iran war prompts countries to accelerate the reduction of "traditional Western assets" and diversify their portfolios, the upside potential for gold remains significant. The report also mentioned that concerns about some central banks potentially selling gold to support their currencies are unlikely to materialize. Gulf states are more inclined to intervene by reducing their holdings of US Treasury bonds. Assuming no additional private sector investment, analysts expect medium-term price volatility to moderate, which will lead to a renewed acceleration in official gold purchases, averaging approximately 60 tons per month.Toyota: The company aims to join Daimler Trucks and Volvo Group as an equal shareholder in the fuel cell joint venture Cellcentric. Upon completion of the transaction, Toyota will bring complementary technologies and expertise to its joint venture.Germanys real retail sales rose 0.6% year-on-year in February, down from 1.2% in the previous month.Germanys export price index fell 0.1% year-on-year in February, compared with 0.2% in the previous month.

Silver Price Prediction - Silver Slides as Downtrend Perpetuates

Daniel Rogers

Jun 23, 2022 11:52

截屏2022-06-15 下午4.06.22_1024x576.png 

 

Silver prices fell, defying the general upward trend in the precious metals complex. U.S. Treasury rates decreased substantially, despite a hawkish Fed Chair hearing on the hill on Wednesday. Despite the weaker dollar, silver prices remained flat.

 

A Federal Reserve Chairman, Jerome Powell, was on the hill for his two-day Humphrey Hawkins hearing, which is mandated by Congress. The head of the central bank said he is committed to reducing inflation and believes he has the tools necessary to accomplish it. Though Powell said he feels the economy is robust currently, he recognized a recession might emerge.

Analytical Methods

Silver prices dipped lower, slipping through support at the 10-day moving average of 21.58. Additional resistance is likely near the 50-day moving average at 22.44.

 

The 50-day just crossed below the 200-day moving average, which is a headwind for XAG/USD since a long-term downtrend is currently deemed in place.

 

The fast stochastic oscillator has issued a crossover sell signal, signaling a decline in short-term momentum.

 

As the histogram and MACD both print favorably, the medium-term momentum is becoming bullish (moving average convergence divergence). The trajectory of the MACD histogram is the positive region with an upward sloping trajectory that signals to higher prices.


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