Silver continues to trade above $30 as investors await employment data.
The silver futures contract gained 0.31% on Tuesday, December 24, as it moved sideways after rebounding on Friday. Last Thursday, silver was the lowest since mid-September as markets reacted to the Wednesday’s Fed release. On December 9, silver broke above its previous trading range and moved near the $33 level, the highest since early November.
In late October, silver reversed the uptrend, selling off from the October 22-23 new long-term high of $35.07. The market was the highest since 2012.
Today, silver is moving sideways again, 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 along the $30.30 level. What about the other precious metals? Gold is also 0.1% higher, platinum is 0.7% lower and palladium is 0.8% lower. So, the main precious metals’ prices are slightly higher this morning.
The CB Consumer Confidence release on Monday has been lower than expected at 104.7. Today, we will get the Unemployment Claims number at 8:30 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Thursday, December 26
- 8:30 a.m. U.S. - Unemployment Claims
- 6:30 p.m. Japan - Tokyo Core CPI y/y
- All Day, Canada - Bank Holiday
- All Day, Eurozone - German Bank Holiday, Italian Bank Holiday
- All Day, U.K. - Bank Holiday
Friday, December 27
- 8:30 a.m. U.S. - Goods Trade Balance, Preliminary Wholesale Inventories m/m
Paul Rejczak
Stock Trading Strategist