Silver price broke above $30; markets await U.S. PMI data.
The silver futures contract gained 4.25% on Thursday, June 20, as it rallied after breaking above a short-term trading range below the $30 level. Recently, it was trading below that level following its June 7 sell-off. On previous Friday, the market sold off after jobs data, stronger U.S. dollar. Silver was gradually declining from its May 20 new medium-term high of $32.75.
Today, silver is retracing some of its yesterday’s rally, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 1.0% lower, as it is trading along the $30.50 level. What about the other precious metals? Gold is 0.4% higher, platinum is 1.3% higher and palladium is 2.2% higher. So, the main precious metals’ prices are mixed this morning.
Yesterday’s Unemployment Claims release has been slightly higher than expected at 238,000. Today, we will get the important Flash Manufacturing PMI and Flash Services PMI releases at 9:45 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).
Friday, June 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, CB Leading Index m/m
- All Day, Eurozone - ECOFIN Meetings
Monday, June 24
- 4:00 a.m. Eurozone - German ifo Business Climate
- 2:00 p.m. U.S. - FOMC Member Daly Speech
Paul Rejczak
Stock Trading Strategist