Silver price is moving higher after rebounding yesterday; economic data in focus.
The silver futures contract gained 1.58% on Tuesday, February 18, as it rebounded after its last Friday’s pullback. On Friday, silver reached a new medium-term high of $34.24, before pulling back below $33. The market 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 extending its yesterday’s advance slightly, 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 above the $33 level. What about the other precious metals? Gold is 0.1% higher, platinum is 0.3% lower and palladium is 0.3% higher. So, the main precious metals’ prices are slightly higher this morning.
Today, we will get the important FOMC Meeting Minutes release at 2:00 p.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 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
Thursday, February 20
- 8:30 a.m. U.S. - Unemployment Claims, Philly Fed Manufacturing Index
- 9:35 a.m. U.S. - FOMC Member Goolsbee Speech
- 10:00 a.m. U.S. - CB Leading Index m/m
- 12:05 p.m. U.S. - FOMC Member Musalem Speech
- 2:30 p.m. U.S. - FOMC Member Jefferson Speech
- 5:00 p.m. U.S. - FOMC Member Kugler Speech
- 5:30 p.m. Australia - RBA Governor Bullock Speech
Paul Rejczak
Stock Trading Strategist