Silver is selling off following Trump’s announcement, breaking below $33.
The silver futures contract gained 0.99% on Wednesday, April 2, as it extended a consolidation despite new record highs in gold prices. Last Friday, silver reached the highest since 2012, however, it remained relatively weaker than gold.
Today, silver is selling off after Trump’s tarrif announcement, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 5.6% lower, as it is trading below $33. What about the other precious metals? Gold is 1.5% lower, platinum is 1.7% lower and palladium is 2.9% lower. So, the main precious metals’ prices are lower this morning.
Yesterday’s tariff announcement led to increased volatility on the markets. Today, we will get the Unemployment Claims release at 8:30 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).
Thursday, April 3
- 7:30 a.m. U.S. - Challenger Job Cuts y/y
- 8:30 a.m. U.S. - Unemployment Claims, Trade Balance
- 9:45 a.m. U.S. - Final Services PMI
- 10:00 a.m. U.S. - ISM Services PMI
- 12:00 p.m. U.S. - FOMC Member Jefferson Speech
- 2:30 p.m. U.S. - FOMC Member Cook Speech
- All Day - OPEC-JMMC Meetings
- All Day, China - Bank Holiday
Friday, April 4
- 8:30 a.m. U.S. - Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m
- 8:30 a.m. Canada - Employment Change, Unemployment Rate
- 11:25 a.m. U.S. - Fed Chair Powell Speech
- 12:00 p.m. U.S. - FOMC Member Barr Speech
- 12:45 p.m. U.S. - FOMC Member Waller Speech
Paul Rejczak
Stock Trading Strategist