Silver price is nearing $30 on gold record-breaking rally, U.S. dollar weakness.
The silver futures contract gained 1.58% on Monday, August 19, as it further extended its advances on gold prices rally, weaker USD. Silver broke above the $29 level; it was the highest since late July. On the previous Thursday, silver rebounded from a new local low of $26.50; it was the lowest since May 3 after selling off on the japanese Yen turmoil, stock market’s volatility.
Today, silver is trading higher again, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 1.7% higher, as it is trading closer to the $30 level. What about the other precious metals? Gold is 0.7% higher, platinum is 0.6% higher and palladium is 0.7% higher. So, the main precious metals’ prices are higher this morning.
Today, we won’t get any new important economic data. The markets will be waiting for tomorrow’s FOMC Meeting Minutes release.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Tuesday, August 20
- 8:30 a.m. Canada - CPI m/m, Median CPI y/y, Trimmed CPI y/y, Common CPI y/y, Core CPI m/m, NHPI m/m
- 1:35 p.m. U.S. - FOMC Member Bostic Speech
- 2:45 p.m. U.S. - FOMC Member Barr Speech
Wednesday, August 21
- 2:00 p.m. U.S. - FOMC Meeting Minutes
Paul Rejczak
Stock Trading Strategist