Silver is still relatively weaker than the record-breaking gold.
The silver futures contract gained 0.66% on Thursday, March 28, as it extended its rebound from Wednesday. It basically continued sideways after slightly extending its short-term downtrend last week.
Recently, silver was relatively weaker than gold, still trading below a local high from mid-December. On February 14, it dipped slightly below the January 22 local low of around $22, and it was the lowest since mid-November.
Today, silver is trading higher following new records in gold price, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.2% higher, as it is trading above the $25 level. What about the other precious metals? Gold is 0.7% higher, platinum is 0.2% higher and palladium is 0.6% higher. So, the main precious metals’ prices are higher this morning.
Friday’s important Core PCE Price Index release has been as expected at +0.3% m/m. Today, we will get the ISM Manufacturing PMI number 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).
Monday, April 1
- 9:45 a.m. U.S. - Final Manufacturing PMI
- 10:00 a.m. U.S. - ISM Manufacturing PMI, ISM Manufacturing Prices, Construction Spending m/m
- All Day, Eurozone - German Bank Holiday, French Bank Holiday, Italian Bank Holiday
- All Day, U.K. - Bank Holiday
Tuesday, April 2
- 10:00 a.m. U.S. - JOLTS Job Openings, Factory Orders m/m
- 12:00 p.m. U.S. - FOMC Member Williams Speech
- 12:05 p.m. U.S. - FOMC Member Mester Speech
- 1:30 p.m. U.S. - FOMC Member Daly Speech
- All Day, U.S. - Wards Total Vehicle Sales
- All Day, Eurozone - German Preliminary CPI m/m
Paul Rejczak
Stock Trading Strategist