Silver price is extending the advance as markets await further economic data.
The silver futures contract lost 0.99% on Wednesday, February 19, as it continued its consolidation following last Friday’s pullback from a local high of $34.24. On Friday, 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 resuming its short-term uptrend, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 1.6% higher, as it is trading above the $33.50 level. What about the other precious metals? Gold is 1.1% higher, platinum is 0.8% higher and palladium is 2.1% higher. So, the main precious metals’ prices are higher this morning.
Today, we will get the Unemployment Claims 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).
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
Friday, February 21
- 2:00 a.m. U.K. - Retail Sales m/m
- 3:15 a.m. Eurozone - French Flash Manufacturing PMI, French Flash Services PMI
- 3:30 a.m. Eurozone - German Flash Manufacturing PMI, German Flash Services PMI
- 4:00 a.m. Eurozone - Flash Manufacturing PMI, Flash Services PMI
- 4:30 a.m. U.K. - Flash Manufacturing PMI, Flash Services PMI
- 8:30 a.m. Canada - Retail Sales m/m, Core Retail Sales m/m
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. - Existing Home Sales, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
- 11:30 a.m. U.S. - FOMC Member Jefferson Speech
- 12:30 p.m. Canada - BOC Governor Macklem Speech
Paul Rejczak
Stock Trading Strategist