Silver remains relatively weaker than gold, pulling back from the $33 level.
The silver futures contract gained 2,11% on Wednesday, April 16, as it extended its short-term uptrend on a record-breaking rally in gold prices. However, silver is still relatively weaker than gold. Last Monday, it rebounded from a new local low of $27.55. On March 28, silver reached the highest since 2012.
Today, silver is pulling back, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 1.8% lower, as it is trading along the $32.40 level. What about the other precious metals? Gold is 0.2% lower, platinum is 1.6% lower and palladium is 2.5% lower. So, the main precious metals’ prices are lower this morning.
Today, we will get the ECB interest rate decision at 8:14 a.m., and the Unemployment Claims number at 8:30 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 17
- 8:15 a.m. Eurozone - Main Refinancing Rate, Monetary Policy Statement
- 8:30 a.m. U.S. - Unemployment Claims, Philly Fed Manufacturing Index, Building Permits, Housing Starts
- 8:45 a.m. Eurozone - ECB Press Conference
- 11:45 a.m. U.S. - FOMC Member Barr Speech
- All Day, Australia - Bank Holiday
Friday, April 18
- 11:00 a.m. U.S. - FOMC Member Daly Speaks
- All Day, Eurozone - German Bank Holiday
- All Day, Canada - Bank Holiday
Paul Rejczak
Stock Trading Strategist