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Chinas trade balance in May was 723.98 billion yuan, compared with 585.69 billion yuan in the previous month.June 9th - Starting in June, electronic savings bonds have been officially included in the scope of personal pension products. This means that citizens who have joined the personal pension system can directly purchase electronic savings bonds through their accounts. According to the issuance schedule, the latest issue of savings bonds will be available for purchase on June 10th. Currently, many banks have added bond purchase portals to their mobile apps personal pension sections. Alternatively, citizens can also visit a bank branch with their bank card and ID to apply for personal pension savings bonds.On June 9th, Futures News reported that the Shaanxi Bureau of the State Administration of Mine Safety recently discovered significant safety hazards at the Qiangxingzhuang Coal Mine of Hengshuo Mining Co., Ltd. in Hengshan County during an inspection. In accordance with the "Regulations on Coal Mine Safety Production," the Yulin Municipal Energy Bureau ordered the Qiangxingzhuang Coal Mine of Hengshuo Mining Co., Ltd. to suspend production for rectification.The China Earthquake Networks Center officially reported that a magnitude 3.6 earthquake struck Wensu County, Aksu Prefecture, Xinjiang, at 10:17 AM on June 9th, with a focal depth of 12 kilometers.On June 9th, the General Office of the Hainan Provincial Peoples Government issued the "Hainan Provinces 15th Five-Year Plan for High-Tech Industry Development," which mentions that, with serving the "Aerospace Power" strategy as its core, the province will fully promote the construction of Hainans commercial space launch site, forming a complete industrial cluster covering commercial launch, rocket and satellite manufacturing, and satellite applications, creating a rocket chain, satellite chain, data chain, and "aerospace+" industrial system. By 2030, the revenue of the commercial aerospace industry is expected to reach 50 billion yuan.

Silver Price Prediction - Silver Price Increased Due to Weak Dollar

Alina Haynes

May 12, 2022 11:03

On Wednesday, silver prices increased alongside the other precious metals. As yields decreased, the dollar declined. In spite of stronger-than-anticipated headline and core CPI reports, Benchmark rates declined today. Gold prices rose as the currency weakened.

CPI Rose Greater Than Anticipated

Wednesday, the U.S. Labor Department revealed April's CPI. The headline CPI came in at 8.3%, slightly lower than March but higher than the 8.1% experts had predicted. The study also revealed that the core CPI, excluding food and energy, rose by 6.2% year over year, which was greater than anticipated. The month-over-month growth also exceeded projections. The Bureau of Labor Statistics (BLS) stated that April inflation grew 0.3% on the headline CPI, compared to the 0.2% expected, and 0.6% on the core CPI, compared to the 0.4% expected gain.

Technical Evaluation

After falling, silver prices recovered, reclaiming short-term support near the September lows at 21.42.

 

Near the 20-day moving average of 23.52, there is observed to be resistance. The 20-day moving average has fallen below the 50-day moving average, indicating a medium-term decline. As indicated by the fast stochastic crossover buy signal, near-term momentum has turned positive. Prices are oversold since the fast stochastic is displaying a value of 13 below the oversold threshold of 20.

 

The medium-term momentum has become negative as the histogram and MACD both print in a negative direction (moving average convergence divergence). The MACD histogram is moving in a negative direction, reflecting the downward trend in price movement.

 

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