Silver is pausing near the $35 level, remaining relatively weaker than gold.
The silver futures contract lost 0.77% on Friday, March 28, as it pulled back from a new long-term high of $35.50. The market is following a record-breaking rally in gold prices, however, remaining relatively weaker than gold. Silver reached the highest since 2012.
Today, silver is moving sideways, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.2% higher, as it is trading below $35. What about the other precious metals? Gold is 1.3% higher, platinum is 0.2% higher and palladium is 0.4% higher. So, the main precious metals’ prices are higher this morning.
Friday’s Core PCE Price Index release has been higher than expected at +0.4% month-over-month. Today, we will get the Chicago PMI release 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).
Monday, March 31
- 9:45 a.m. U.S. - Chicago PMI
- 11:30 p.m. Australia - Cash Rate, RBA Rate Statement
- All Day, Eurozone - German Preliminary CPI m/m
Tuesday, April 1
- 5:00 a.m. Eurozone - CPI Flash Estimate y/y, Core CPI Flash Estimate y/y
- 8:30 a.m. Eurozone - ECB President Lagarde Speech
- 9:00 a.m. U.S. - FOMC Member Barkin Speech
- 9:45 a.m. U.S. - Final Manufacturing PMI
- 10:00 a.m. U.S. - ISM Manufacturing PMI, JOLTS Job Openings, ISM Manufacturing Prices, Construction Spending m/m
- Tentative, U.S. - RCM/TIPP Economic Optimism
- All Day, U.S. - Wards Total Vehicle Sales
Paul Rejczak
Stock Trading Strategist