Silver price came back to the $30 level; investors await data, year-end.
The silver futures contract lost 1.39% on Friday, December 27, as it retraced its recent advances following a decline in gold prices. It came back to the $30 level. On the previous Thursday, silver was the lowest since mid-September as markets reacted to the Wednesday’s Fed release.
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 along its Friday’s closing price, 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 $30 level. What about the other precious metals? Gold is unchanged, platinum is 0.1% lower and palladium is 0.1% higher. So, the main precious metals’ prices are mixed this morning.
Today, we will get the Chicago PMI release 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).
Monday, December 30
- 9:45 a.m. U.S. - Chicago PMI
- 10:00 a.m. U.S. - Pending Home Sales m/m
- 8:30 a.m. China - Manufacturing PMI, Non-Manufacturing PMI
- All Day, Japan – Bank Holiday
Tuesday, December 31
- 9:00 a.m. U.S. - S&P/CS Composite-20 HPI y/y, HPI m/m
- All Day, Eurozone - German Bank Holiday
- All Day, Japan - Bank Holiday
- All Day, China - Bank Holiday
Paul Rejczak
Stock Trading Strategist