Silver price pulled back from $30; Fed Minutes release in focus.
The silver futures contract gained 0.73% on Tuesday, August 20, as it extended its advances again in a reaction to gold prices rally, weaker USD. Silver approached the $30 level; it was the highest since July 19. 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 slightly higher following yesterday’s intraday pull-back, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.3% higher, as it is trading along the $29.60 level. What about the other precious metals? Gold is 0.2% lower, platinum is 1.9% higher and palladium is 1.1% higher. So, the main precious metals’ prices are mixed this morning.
Today, we will get the important FOMC Meeting Minutes release at 2:00 p.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Wednesday, August 21
- 2:00 p.m. U.S. - FOMC Meeting Minutes
Thursday, August 22
- 3:15 a.m. Eurozone - French Flash Manufacturing PMI, French Flash Services PMI
- 3:30 a.m. Eurozone - German Flash Manufacturing PMI, German Flash Services PMI
- 4:00 a.m. Eurozone - Flash Manufacturing PMI, Flash Services PMI
- 4:30 a.m. U.K. - Flash Manufacturing PMI, Flash Services PMI
- 8:30 a.m. U.S. - Unemployment Claims
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. - Existing Home Sales
- All Day, U.S. - Jackson Hole Symposium
Paul Rejczak
Stock Trading Strategist