Silver price is still going sideways, economic data in focus.
The silver futures contract gained 0.08% on Wednesday, April 17, as it further extended a short-term consolidation following Friday’s rally and an intraday decline from a new medium-term high of $29.91. On Friday, silver rallied due to Middle East tensions and stronger U.S. dollar; however, later in the day, it sold off following gold prices retreat.
Today, silver is still trading within a short-term consolidation, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.5% higher, as it is trading slightly above the $28.50 level. What about the other precious metals? Gold is 0.4% higher, platinum is 0.1% lower and palladium is 0.1% higher. So, the main precious metals’ prices are higher again this morning.
Today, we will get the Unemployment Claims and Philly Fed Manufacturing Index releases at 8:30 a.m., and the Existing Home Sales and CB Leading Index at 10:00 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Thursday, April 18
- 8:30 a.m. U.S. - Unemployment Claims, Philly Fed Manufacturing Index
- 9:15 a.m. U.S. - FOMC Member Bowman Speech, FOMC Member Williams Speech
- 10:00 a.m. U.S. - Existing Home Sales, CB Leading Index m/m
- 11:00 a.m. U.S. - FOMC Member Bostic Speech
- 5:45 p.m. U.S. - FOMC Member Bostic Speech
- All Day - IMF Meetings
Friday, April 19
- 2:00 a.m. U.K. - Retail Sales m/m
- All Day - IMF Meetings
Paul Rejczak
Stock Trading Strategist