Silver price extends its consolidation; consumer inflation data in focus.
The silver futures contract lost 0.52% on Tuesday, February 11, as it continued its consolidation despite new records in gold price. Silver remained relatively weaker. On the prior Monday, it was the lowest since early January, reaching a local low of $30.03, and on Tuesday, it crossed the $33 level.
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 trading slightly lower, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.5% lower, as it is trading along the $32.10 level. What about the other precious metals? Gold is 0.9% lower, platinum is 0.4% lower and palladium is 1.0% lower. So, the main precious metals’ prices are lower this morning.
Today, we will get the important Consumer Price Index release at 8:30 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).
Wednesday, February 12
- 8:30 a.m. U.S. - CPI m/m, Core CPI m/m, CPI y/y
- 10:00 a.m. U.S. - Fed Chair Powell Testimony
- 12:00 p.m. U.S. - FOMC Member Bostic Speech
- 1:01 p.m. U.S. - 10-y Bond Auction
- 2:00 p.m. U.S. - Federal Budget Balance
- 5:05 p.m. U.S. - FOMC Member Waller Speech
Thursday, February 13
- 2:00 a.m. U.K. - GDP m/m, Preliminary GDP q/q
- 8:30 a.m. U.S. - PPI m/m, Core PPI m/m, Unemployment Claims
- 1:01 p.m. U.S. - 30-y Bond Auction
Paul Rejczak
Stock Trading Strategist