Silver price gets closer to $30 again; markets await economic data.
The silver futures contract lost 0.30% on Monday, June 24, as it fluctuated after its Friday’s sell-off of 3.9%. On Friday, the market retraced the Thursday’s rally of 4.3% following a sell-off in gold amid USD strength, stock market’s uncertainty. On Thursday, the market broke above its recent trading range, however, on Friday, silver went back within a consolidation. Recently, it was gradually declining from the May 20 new medium-term high of $32.75.
Today, silver is rebounding slightly, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.3% higher, as it is trading closer to the $30 level. What about the other precious metals? Gold is 0.1% higher, platinum is 0.6% lower and palladium is also 0.6% lower. So, the main precious metals’ prices are slightly higher this morning.
Today, we will get the important CB Consumer Confidence 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).
Tuesday, June 25
- 7:00 a.m. U.S. - FOMC Member Bowman Speech
- 8:30 a.m. Canada - CPI m/m, Median CPI y/y, Trimmed CPI y/y,
- Common CPI y/y, Core CPI m/m
- 9:00 a.m. U.S. - S&P/CS Composite-20 HPI y/y, HPI m/m
- 10:00 a.m. U.S. - CB Consumer Confidence, Richmond Manufacturing Index
- 12:00 p.m. U.S. - FOMC Member Cook Speech
- 2:10 p.m. U.S. - FOMC Member Bowman Speech
- 9:30 p.m. Australia - CPI y/y
Wednesday, June 26
- 10:00 a.m. U.S. - New Home Sales
Paul Rejczak
Stock Trading Strategist