Silver price is going sideways as markets await FOMC Minutes release.
The silver futures contract gained 0.44% on Tuesday, February 20, as it fluctuated following its Monday’s decline of 1.9%. On Monday, it retraced Friday’s advance despite low trading activity over the holiday weekend. On Friday, silver had rallied by 2.28% following a 2.52% increase on Thursday, reaching a peak of $23.56. Earlier in the week, silver sold off after the higher-than-expected consumer inflation numbers. On Wednesday, It dipped slightly below the January 22 local low of around $22.
Today silver is trading sideways, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.2% lower, as it is trading along the $23.10 level. What about the other precious metals? Gold is unchanged, platinum is 0.6% lower and palladium is 0.7% lower. So the main precious metals’ prices are mixed this morning.
Today, we will get the important FOMC Meeting Minutes release at 2:00 p.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Wednesday, February 21
- 8:00 a.m. U.S. - FOMC Member Bostic Speech
- 1:00 p.m. U.S. - FOMC Member Bowman Speech
- 2:00 p.m. U.S. - FOMC Meeting Minutes
Thursday, February 22
- 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. U.S. - Unemployment Claims
- 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, FOMC Member Jefferson Speech
- 5:00 p.m. U.S. - FOMC Member Waller Speech
- All Day, Eurozone - ECOFIN Meetings
Paul Rejczak
Stock Trading Strategist