Silver sold off below $28, currently it’s rebounding and gaining over 3%.
The silver futures contract sold off by 8.57% on Friday, April 4, as it extended its Thursday’s decline of 7.7%. It kept selling off following Trump’s tariff announcement on Wednesday. The previous Friday, silver reached the highest since 2012, however, it remained relatively weaker than gold.
Today, silver is rebounding from a new low, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 3.2% higher, as it is trading along the $30.50 level. What about the other precious metals? Gold is 0.8% higher, platinum is 0.1% higher and palladium is 0.8% higher. So, the main precious metals’ prices are higher this morning.
Today, we will get the Consumer Credit release at 3:00 p.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Monday, April 7
- 10:30 a.m. U.S. - FOMC Member Kugler Speech
- 3:00 p.m. U.S. - Consumer Credit m/m
Tuesday, April 8
- 6:00 a.m. U.S. - NFIB Small Business Index
- 2:00 p.m. U.S - FOMC Member Daly Speech
Paul Rejczak
Stock Trading Strategist