Silver still affordable for small investors as the price of one ounce of gold reached more then 1600$, where silver still at a price next to 30$ also Silver have direct liquidity and the general sentiment for Silver price in 2013 still bullish. 

In 2012 the demand on silver for industrial and commercial uses increase to reach 43% and this demand is expected to rise in 2013 especially from far-east markets like China where jewelers demand is booming lately. 

Because of public debt crisis in US, and the Euro zone crisis in Europe, investors are searching for safe heaven investments and Silver represent an affordable choice for small investors and big investors. As much the US dollar will lose value Silver price will advance more and might retest this year the highest high of 49,70 after passing the support levels 37.49, 44.20

Technically speaking:

By studying the daily chart for silver price on the long term, we find that the price rises in a major upside trend carried by the bullish trend line shown clearly on the following chart:

We notice that the price managed to lean recently on this bullish trend support, to bounce to the upside normally and resume the positive track, while the main waited target now is attacking the critical resistance at 34.00, which represents the confirmation gate to continue with the gains trip on the short term and medium term, and the image above shows the suggested scenario.

Stochastic is supporting our positive overview well, providing bullish trend signals on the daily timeframe, which offers positive motive for the price to reinforce the chances to rally to the upside heading towards the first mentioned target.

To summarize the technical overview, the bullish trend will be preferred for the upcoming period, but the price has to surpass some critical resistance barriers to ease the bullish trend mission, the key levels are represented by 32.45 followed by 34.00, to extend with our positive targets towards 38.00 then 40.00 on the short term, while we go further targeting the historical high recorded near 50.00$ barrier, this level represents the main technical target for this year.

On the other hand, we must take into consideration that breaking below 29.15 will stop the suggested positive scenario, while breaking 26.10 will damage this scenario and leads into major turn to the trend into the downside.

Infineon Technology AG, the German chip maker reported on Thursday its first-quarter earnings, where net profit missed forecast, while the company expects decreasing in revenue in 2013.

First-quarter net profit was 19 million euros, down from 138 euro a quarter ago, missing estimates of 31 million euro.

Sales also fell to 851 million, from 982 million euro in fourth quarter 2012, lower than forecasts of 864 million euro, while earning per share were 0.02 lower by 85% from last quarter.

On the other hand, the firm forecasts a decline in revenue in 2013, by around 5 to 9 percent from last year. Segment result margin is also expected to hold around the same rate.

"As long as the global economy does not stall, business should continue to pickup as expected," Chief Executive Reinhard Ploss said in a statement today.

Infineon share price rose 0.26 points or 4.13 percent to 6.66 euro as of 10:48 GMT in Frankfurt.

Banco Santander reported a rise in fourth-quarter net profit, citing relatively hefty earnings in Latin America, while concluding the clean-up of costly Spanish real estate assets.

The spanish lender reported a net profit of €401 million, compared with a year earlier when it reported only €45 million. The big change was driven by big charges on the bank’s property assets.

Santander’s biggest revenue source, net interest income, fell to €7.15 billion in the fourth quarter, from 7.54 billion on the same quarter a year earlier.

Eurozone’s biggest bank by market value, disappointed estimates, as analysts were expecting net profit of €520, and net interest income of €7.30 billion.

Santander set aside €18.8 billion to cover loan losses for the whole year, including more than €6 billion assigned for Spanish real estate.

"In 2013, with the exceptional write-offs behind us, we should see a marked recovery in results." Said Emilio Botin, the Bank’s chairman in a press release with the statement.

The Bank’s shares have soared in the past three months and are now trading at their highest level since the summer of 2011, as Europe’s sovereign debt crisis seems to come to an end.

Santander retreated 2.36% to €6.249 after the release of the statement.

Diageo PLC, the world`s biggest spirits group, reported on Thursday 61 percent increase in the second half of 2012, driven by price rises and the growth in the United States.

The maker of Johnnie Walker whisky and Guinness said net profit in the half year to December rose to 1.54 billion pounds from 953 million pounds in the same period last year.

Operating profit excluding onetime items rose 9 percent to 2.03 billion pounds, beating analysts expected 2.02 billion pounds.

The giant whisky-maker reported a net sales increase of 5 percent to 6.04 billion pounds. Excluding acquisitions, disposals and currency movements ,sales growth was 5 percent meeting forecast but lower than the second half a year earlier when it posted 7 percent growth.

The increasing sales of premium spirits in North America over the key holiday season, boosted by price increases for Diageo.

Diageo shares rose 0.22 percent to 1857 pence on Thursday after closing Wednesday at 1,853 pence, leaving the company with a makret value of 46.48 billion pounds.