Silver price is slightly above $31; monthly jobs report in focus.
The silver futures contract gained 1.06% on Thursday, January 9, as it extended its recent advances, breaking slightly above the recent highs. Last Monday, it broke below the $30 level, and on Tuesday, it traded as low as $29.20. On December 19, silver was the lowest since mid-September as markets reacted to the Wednesday’s Fed release.
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 moving along ita yesterday’s high, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.5% higher, as it is trading above the $31 level. What about the other precious metals? Gold is 0.6% higher, platinum is 0.3% higher and palladium is 2.4% higher. So, the main precious metals’ prices are higher this morning.
Today, we will get the important monthly jobs data release at 8:30 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Friday, January 10
- 8:30 a.m. U.S. - Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m
- 8:30 a.m. Canada - Employment Change, Unemployment Rate
- 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations
Monday, January 13
- 2:00 p.m. U.S. - Federal Budget Balance
Paul Rejczak
Stock Trading Strategist