THE TIPSTER
SHARES in Apple hit an all time high of $364 back in February, but its first quarter results have smashed forecasts. Profits were up 90 per cent to $5.99bn from $3.07bn in the same period last year. Some investors thought Steve Jobs’s illness had encouraged a slowdown in growth, and they were wrong. His recent commitment to “continue to innovate on all fronts” put a strong message out to all investors. Capital CFDs quotes $342.24-$342.59.
There are expectations that crude oil prices will continue to climb in the coming months, not only as perceived dollar weakness takes its toll, but also from the strong seasonal pattern in the run up to the US driving season. With the US economy seemingly having turned a corner, there is every reason to believe that demand will remain strong. Even though we’re sitting well above the psychological $100 per barrel level, further gains wouldn’t be much of a surprise. Current IG Markets price on US light crude for June is $112.15-$112.21.
The record for silver was $50 in 1980, but we may not have to wait too long before we see it reach this level based on ongoing global fundamentals. The metal has been up on the back of inflation concerns, government debt downgrades and the Middle Eastern turmoil. The gold/silver ratio is currently down to 30, favouring silver. Capital CFDs quotes silver May $45.72-$45.75.