Silver price is breaking higher after the Fed release, trading above $25.50
The silver futures contract lost 0.12% on Wednesday, March 20, as it extended short-term fluctuations in an aticipation of the FOMC Rate Decision release. Last Wednesday, the market caught up with the recent gold’s strength, gaining over 3%, and this week, it traded sideways and above the $25 level.
In the previous week, silver was relatively weaker than gold, still trading below local highs from mid-December and way below the December 4 local high of over $26. On February 14, it dipped slightly below the January 22 local low of around $22, and it was the lowest since mid-November.
Today, silver is rallying after the Fed release, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 2.2% higher, as it is trading above the $25.60 level. What about the other precious metals? Gold is 2.3% higher, platinum is 0.4% higher and palladium is 1.4% lower. So, the main precious metals’ prices are much higher this morning.
Today we will get the Unemployment Claims release at 8:30 a.m., and the important Flash Manufacturing PMI and Flash Services PMI numbers at 9:45 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Thursday, March 21
- 4:15 a.m. Eurozone - French Flash Manufacturing PMI, French Flash Services PMI
- 4:30 a.m. Eurozone - German Flash Manufacturing PMI, German Flash Services PMI
- 5:00 a.m. Eurozone - Flash Manufacturing PMI, Flash Services PMI
- 5:30 a.m. U.K. - Flash Manufacturing PMI, Flash Services PMI
- 8:00 a.m. U.K. - Monetary Policy Summary, MPC Official Bank Rate Votes, Official Bank Rate
- 8:30 a.m. U.S. - Unemployment Claims, Philly Fed Manufacturing Index, Current Account
- 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
- 12:00 p.m. U.S. - FOMC Member Barr Speech
Friday, March 22
- 3:00 a.m. U.K. - Retail Sales m/m
- 5:00 a.m. Eurozone - German ifo Business Climate
- 9:00 a.m. U.S. - Fed Chair Powell Speech
- 12:00 p.m. U.S. - FOMC Member Barr Speech
- 4:00 p.m. U.S. - FOMC Member Bostic Speech
- All Day, Eurozone - Euro Summit
Paul Rejczak
Stock Trading Strategist