Daily Silver News: August 14 – Silver Price Is Still Near $28

Paul-Rejczak Paul Rejczak Aug 14, 2024

Silver remains close to $28; markets await the important CPI release.

The silver futures contract lost 0.79% on Tuesday, August 13, as it fluctuated following its Thursday’s rebound. Last Thursday, silver rebounded from a new local low of $26.50, gaining 2.5%. Silver was the lowest since May 3. Last Monday, it reacted to the japanese Yen turmoil, stock market’s volatility, selling off by over 4%.

Today, silver is retracing its yesterday’s decline, as we can see on the daily chart (the chart includes today’s intraday data):

Daily Silver News: August 14 – Silver Price Is Still Near $28 - Image 1

The silver price is 0.7% higher, as it is trading along the $28 level. What about the other precious metals? Gold is 0.2% higher, platinum is 0.3% higher and palladium is 1.2% higher. So, the main precious metals’ prices are higher this morning.

Yesterday’s Producer Price Index release has been slightly lower than expected at +0.1% month over month. Today, we will get the important Consumer Price Index number at 8:30 a.m. The release will likely lead to volatility on the markets.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).

Wednesday, August 14

  • 2:00 a.m. U.K. - CPI y/y, Core CPI y/y
  • 8:30 a.m. U.S. - CPI m/m, Core CPI m/m, CPI y/y
  • 9:30 p.m. Australia - Employment Change, Unemployment Rate
  • 10:00 p.m. China - Industrial Production y/y, Retail Sales y/y

Thursday, August 15

  • 2:00 a.m. U.K. - GDP m/m, Preliminary GDP q/q
  • 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Unemployment Claims, Empire State Manufacturing Index, Philly Fed Manufacturing Index, Import Prices m/m
  • 9:10 a.m. U.S. - FOMC Member Musalem Speech
  • 9:15 a.m. U.S. - Industrial Production m/m, Capacity Utilization Rate
  • 10:00 a.m. U.S. - Business Inventories m/m, NAHB Housing Market Index
  • 1:10 p.m. U.S. - FOMC Member Harker Speech
  • 4:00 p.m. U.S. - TIC Long-Term Purchases
  • 7:30 p.m. Australia - RBA Governor Bullock Speech
  • Tentative, U.S. - Mortgage Delinquencies
  • All Day, Eurozone - French Bank Holiday, Italian Bank Holiday

Paul Rejczak
Stock Trading Strategist