Silver price is still trading sideways; markets await economic data.
The silver futures contract gained 0.05% on Wednesday, August 21, as it extended a short-term consolidation following the recent advances. On Tuesday, 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 sideways again, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.2% higher, as it is trading along the $29.60 level. What about the other precious metals? Gold is 0.3% lower, platinum is 0.8% lower and palladium is 0.2% higher. So, the main precious metals’ prices are mixed this morning.
Today, we will get the important Unemployment Claims release at 8:30 a.m., and the Flash Manufacturing PMI/ Flash Services PMI releases at 9:45 a.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
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
- 8:30 a.m. Canada - Retail Sales m/m, Core Retail Sales m/m
- 10:00 a.m. U.S. - Fed Chair Powell Speech, New Home Sales
- 3:00 p.m. U.K. - BOE Governor Bailey Speech
- All Day, U.S. - Jackson Hole Symposium
Paul Rejczak
Stock Trading Strategist