Silver price extends its rebound; tariff developments still causing uncertainty.
The silver futures contract gained 1.28% on Monday, April 7, as it rebounded from its new local low of $27.545. Silver kept selling off following last week’s Thursday’s-Friday’s breakdown, before rebounding from the lowest level in almost seven months. The market reacted to Trump’s tariff announcement last Wednesday. The previous Friday, silver reached the highest since 2012, however, remaining relatively weaker than gold.
Today, silver is extending its rebound, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 2.3% higher, as it is trading along the $30.30 level. What about the other precious metals? Gold is 1.7% higher, platinum is 0.7% higher and palladium is 0.1% higher. So, the main precious metals’ prices are higher this morning.
Today, we will get the NFIB Small Business Index release at 6:00 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Tuesday, April 8
- 6:00 a.m. U.S. - NFIB Small Business Index
- 2:00 p.m. U.S - FOMC Member Daly Speech
Wednesday, April 9
- 10:00 a.m. U.S. - Final Wholesale Inventories m/m
- 11:00 a.m. U.S. - FOMC Member Barkin Speech
- 1:01 p.m. U.S. - 10-y Bond Auction
- 2:00 p.m. U.S. - FOMC Meeting Minutes
- 9:30 p.m. China - CPI y/y, PPI y/y
- Tentative, Japan - BOJ Governor Ueda Speech
Paul Rejczak
Stock Trading Strategist