Silver price is moving sideways after Friday’s pullback; markets await further data.
The silver futures contract gained 0.06% on Monday, February 17, as it fluctuated following its Friday’s downward reversal. On Friday, it reached a new medium-term high of $34.24, before pulling back below $33. Silver was the highest since late October. On January 27, it rebounded from a local low of $30.03.
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 basically moving sideways, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.4% higher, as it is trading near the $33 level. What about the other precious metals? Gold is 0.5% higher, platinum is 0.5% higher and palladium is 0.5% lower. So, the main precious metals’ prices are higher this morning.
Friday’s Retail Sales release has been lower than expected at -0.9% month-over-month. Today, we will get a series of economic data and speeches from the FOMC Members.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Tuesday, February 18
- 2:00 a.m. U.K. - Claimant Count Change, Average Earnings Index 3m/y, Unemployment Rate
- 4:30 a.m. U.K. - BOE Governor Bailey Speech
- 5:00 a.m. Eurozone - German ZEW Economic Sentiment
- 8:30 a.m. U.S. - Empire State Manufacturing Index
- 8:30 a.m. Canada - CPI m/m, Median CPI y/y, Trimmed CPI y/y, Common CPI y/y, Core CPI m/m
- 10:00 a.m. U.S. - NAHB Housing Market Index
- 10:20 a.m. U.S. - FOMC Member Daly Speech
- 1:00 p.m. U.S. - FOMC Member Barr Speech
- 4:00 p.m. U.S. - TIC Long-Term Purchases
- 7:30 p.m. Australia - Wage Price Index q/q
- Tentative, U.S. - President Trump Speech
- All Day, Eurozone - ECOFIN Meetings
Wednesday, February 19
- 2:00 a.m. U.K. - CPI y/y
- 8:30 a.m. U.S. - Building Permits, Housing Starts
- 2:00 p.m. U.S. - FOMC Meeting Minutes
- 5:00 p.m. U.S. - FOMC Member Jefferson Speech
- 7:30 p.m. Australia - Employment Change, Unemployment Rate
- 8:00 p.m. China - 1-y Loan Prime Rate, 5-y Loan Prime Rate
Paul Rejczak
Stock Trading Strategist