Silver is rebounding ahead of the important consumer inflation release.
The silver futures contract gained 0.48% on Tuesday, November 12, as it rebounded from a new local low of $30.28 following a consolidation in gold prices. Last Wednesday-Friday, silver basically moved sideways after its post-election sell-off. In late October, it reversed the uptrend, selling off from the October 22-23 new long-term high of $35.07. Silver was the highest since 2012.
Today, silver is extending a rebound, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.5% higher, as it is trading near the $31 level. What about the other precious metals? Gold is 0.4% higher, platinum is 0.1% lower and palladium is 0.9% higher. So, the main precious metals’ prices are higher this morning.
Today, we will get the important Consumer Price Index release at 8:30 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Wednesday, November 13
- 8:30 a.m. U.S. - CPI m/m, Core CPI m/m, CPI y/y
- 9:45 a.m. U.S. - FOMC Member Logan Speech
- 1:00 p.m. U.S. - FOMC Member Musalem Speech
- 1:30 p.m. U.S. - FOMC Member Schmid Speech
- 2:00 p.m. U.S. - Federal Budget Balance
- 6:00 p.m. Australia - RBA Governor Bullock Speech
- 7:30 p.m. Australia - Employment Change, Unemployment Rate
Thursday, November 14
- 7:00 a.m. U.S. - FOMC Member Kugler Speech
- 8:30 a.m. U.S. - PPI m/m, Core PPI m/m, Unemployment Claims
- 9:00 a.m. U.S. - FOMC Member Barkin Speech
- 2:00 p.m. Eurozone - ECB President Lagarde Speech
- 3:00 p.m. U.S. - Fed Chair Powell Speech
- 4:00 p.m. U.K. - BOE Governor Bailey Speech
- 4:15 p.m. U.S. - FOMC Member Williams Speech
- 9:00 p.m. China - Industrial Production y/y, Retail Sales y/y
Paul Rejczak
Stock Trading Strategist