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The China Earthquake Networks Center officially measured a 3.1-magnitude earthquake at 10:20 a.m. on June 29 in Haixi Prefecture, Qinghai Province (37.81 degrees north latitude, 95.55 degrees east longitude), with a focal depth of 10 kilometers.June 29th - According to reports, Apple is considering using a 1.4nm process in its flagship smartphone SoC as early as 2028, which means that the lifespan of flagship chips manufactured using a 2nm process may only be about two years.On June 29, Nomura Securities issued a report maintaining its "Buy" rating on Lenovo Group (00992.HK). Based on a 20x multiple of its 2027 fiscal year earnings per share forecast, the target price was significantly raised from HK$16 to HK$35, implying a 46% upside. In its previous report on Lenovo published in May, Nomura emphasized that the momentum of its general-purpose server business might far exceed expectations. Although Lenovos share price has risen by more than 100% since May, Nomura believes this outperformance may continue because it believes that: (1) the market has not yet fully reflected the potential of Lenovos server business; (2) Nomuras earnings forecast for fiscal year 2027/28 is now about 10% higher than the market consensus; and (3) Lenovo is currently in the process of revaluation, with its main peer Dell (DELL.N) trading at a 30x one-year forward P/E ratio, which Nomura believes creates room for Lenovos revaluation. The bank raised its 2027/28 fiscal year earnings forecast for Lenovo Group by 12%.The Japanese governments economic policy blueprint shows that its goal is to ensure annual real economic growth of more than 1%.The Hang Seng Tech Index continued its upward trend, rising by more than 3%.

Predictions for Gold Prices — Gold prices rose as the dollar weakened

Alina Haynes

May 24, 2022 09:43

Gold prices rise as the dollar weakens to start the week. The currency experienced negative pressure on reduced growth prospects and likely march toward recession. Benchmark rates climbed as shares surged today. Today, the yield on the ten-year Treasury note rose by 3 basis points.

 

On Monday, there was little going on in the world of business. Focus continues on Fed Chair Powell’s speech tomorrow and major economic statistics including PCI and first-quarter GDP published this week. Investors are anxious about impending recession and sluggish economic growth.

Analytical Methods

Gold prices came back from session highs but are still higher and possibly be headed to the 1860s. This week's economic statistics might point to a slowdown in economic growth, which would benefit gold.

 

To begin the week, gold prices held above the 200-day moving average of $1839. Support is indicated near the 200-day moving average near 1839. Resistance is apparent at the May 12th peak of 1858.

 

The Fast Stochastic has formed a crossover buy signal, indicating that the short-term momentum is bullish. Prices are no longer oversold as the fast stochastic prints a value of 54.58, considerably above the oversold trigger level of 20.

 

Medium-term momentum turns bullish as the MACD can provide a crossover buy signal. This occurs as the 12-day moving average minus the 26-day moving average passes below the 9-day moving average of the MACD line.

 

Price declines are predicted by the MACD (moving average convergence divergence) histogram, which shows a downward trend in price.

 

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