Silver retraced some of its Monday’s sell-off following a rebound in gold, stocks.
The silver futures contract gained 2.46% on Thursday, August 8, as it rebounded from a new local low of $26.50. Silver was the lowest since May 3 yesterday. On Monday, it reacted to the japanese Yen turmoil, stock market’s volatility, selling off by over 4%.
Today, silver is trading along its yesterday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.1% higher, as it is trading above the $27.60 level. What about the other precious metals? Gold is 0.3% higher, platinum is 0.5% lower and palladium is 0.8% higher. So, the main precious metals’ prices are higher this morning.
Yesterday’s Unemployment Claims release has been lower than expected at 233,000. Today, we won’t get any new important economic data.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
- 8:30 a.m. Canada - Employment Change, Unemployment Rate
Monday, August 12
- 2:00 p.m. U.S. - Federal Budget Balance
- 9:30 p.m. Australia - Wage Price Index q/q
- Tentative, U.S. - Cleveland Fed Inflation Expectations
- Tentative, China - New Loans
Paul Rejczak
Stock Trading Strategist