Silver is extending its consolidation, remaining near the $35 level.
The silver futures contract lost 0.58% on Monday, March 31, as it extended its short-term pullback despite new record highs in gold price. On Friday, silver reached the highest since 2012, however, it remains relatively weaker than gold.
Today, silver is moving sideways again, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.3% higher, as it is trading along the $34.70 level. What about the other precious metals? Gold is 0.4% higher, platinum is 1.1% lower and palladium is unchanged. So, the main precious metals’ prices are higher this morning.
Yesterday’s Chicago PMI release has been higher than expected at 47.6. Today, we will get key ISM Manufacturing PMI and JOLTS Job Openings numbers at 10:00 a.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Tuesday, April 1
- 5:00 a.m. Eurozone - CPI Flash Estimate y/y, Core CPI Flash Estimate y/y
- 8:30 a.m. Eurozone - ECB President Lagarde Speech
- 9:00 a.m. U.S. - FOMC Member Barkin Speech
- 9:45 a.m. U.S. - Final Manufacturing PMI
- 10:00 a.m. U.S. - ISM Manufacturing PMI, JOLTS Job Openings, ISM Manufacturing Prices, Construction Spending m/m
- Tentative, U.S. - RCM/TIPP Economic Optimism
- All Day, U.S. - Wards Total Vehicle Sales
Wednesday, April 2
- 8:15 a.m. U.S. - ADP Non-Farm Employment Change
- 10:00 a.m. U.S. - Factory Orders m/m
- 4:30 p.m. U.S. - FOMC Member Kugler Speech
Paul Rejczak
Stock Trading Strategist