Silver price is back above the $34 level as markets await further data, geopolitics news.
The silver futures contract gained 2.20% on Tuesday, March 25, as it rebounded after its recent declines, following advance in gold prices. Last week, silver retreated from its Tuesday’s local high of $35.00. It was the highest since late October. In October, the market was the highest since 2012.
Today, silver is basically moving sideways, 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 along the $34.30 level. What about the other precious metals? Gold is 0.1% higher, platinum is 0.1% lower and palladium is unchanged. So, the main precious metals’ prices are slightly higher this morning.
Yesterday’s CB Consumer Confidence release has been lower than expected at 92.9. Today, we will get the Durable Goods Orders number at 8:30 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, March 26
- 3:00 a.m. U.K. - CPI y/y
- 8:30 a.m. U.S. - Durable Goods Orders m/m, Core Durable Goods Orders m/m
- 10:00 a.m. U.S. - FOMC Member Kashkari Speech
- 1:10 p.m. U.S. - FOMC Member Musalem Speech
- Tentative, U.K. - Annual Budget Release
Thursday, March 27
- 8:30 a.m. U.S. - Final GDP q/q, Unemployment Claims, Final GDP Price Index q/q, Goods Trade Balance, Preliminary Wholesale Inventories m/m
- 10:00 a.m. U.S. - Pending Home Sales m/m
- 4:30 p.m. U.S. - FOMC Member Barkin Speech
- 7:30 p.m. Japan - Tokyo Core CPI y/y
Paul Rejczak
Stock Trading Strategist