Silver price keeps fluctuating; more tariff news in focus.
The silver futures contract gained 0.28% on Tuesday, April 8, as it fluctuated after its recent sell-off. 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 rebounding witihn a consolidation, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 2.5% higher, as it is trading along the $30.40 level. What about the other precious metals? Gold is 3.0% higher, platinum is 0.6% higher and palladium is 0.7% higher. So, the main precious metals’ prices are higher this morning.
Today, we will get the FOMC Meeting Minutes release at 2:00 p.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
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
Thursday, April 10
- 6:00 a.m. Australia - RBA Governor Bullock Speech
- 8:30 a.m. U.S. - CPI m/m, Core CPI m/m, CPI y/y, Unemployment Claims
- 9:30 a.m. U.S. - FOMC Member Logan Speech
- 10:00 a.m. U.S. - FOMC Member Bowman Speech
- 12:00 p.m. U.S. - FOMC Member Goolsbee Speech, FOMC Member Harker Speech
- 1:01 p.m. U.S. - 30-y Bond Auction
- 2:00 p.m. U.S. - Federal Budget Balance
Paul Rejczak
Stock Trading Strategist