Silver breaks higher; more economic data in focus.
The silver futures contract gained 0.15% on Tuesday, July 3, as it further extended a consolidation after a rebound from the last Tuesday’s local low of $28.86. Last Tuesday, the market broke the recent lows following the previous Friday’s sell-off of almost 4%, gold’s reversal. Recently, it was gradually declining from the May 20 new medium-term high of $32.75.
Today, silver is breaking above the $30 level, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 2.6% higher, as it is trading closer to the $30.50 level. What about the other precious metals? Gold is 0.9% higher, platinum is 0.4% lower and palladium is 1.9% higher. So, the main precious metals’ prices are higher this morning.
Yesterday’s JOLTS Job Openings release has been higher than expected at 8.14 million. Today, we will get the important ADP Non-Farm Employment Change number at 2:15 a.m., and the ISM Services PMI release at 10:00 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).
Wednesday, July 3
- 6:30 a.m. U.S. - FOMC Member Williams Speech
- 7:30 a.m. U.S. - Challenger Job Cuts y/y
- 8:15 a.m. U.S. - ADP Non-Farm Employment Change
- 8:30 a.m. U.S. - Unemployment Claims, Trade Balance
- 9:45 a.m. U.S. - Final Services PMI
- 10:00 a.m. U.S. - ISM Services PMI, Factory Orders m/m
- 10:15 a.m. Eurozone - ECB President Lagarde Speech
- 2:00 p.m. U.S. - FOMC Meeting Minutes
Thursday, July 4
- All Day, U.S. - Bank Holiday
- All Dat, U.K. - Parliamentary Elections
Paul Rejczak
Stock Trading Strategist