Silver extends its advances, reaching the highest since 2012.
The silver futures contract gained 2.54% on Monday, October 21, as it further extended its uptrend, reaching new long-term highs. Silver is now the highest since 2012. Recently, it has been going sideways despite new record highs in gold price.
On August 8, silver rebounded from a new local low of $26.50; it was the lowest since early May after selling off on the japanese Yen turmoil, stock market’s volatility.
Today, silver is reaching a new multi-year high, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 1.8% higher, as it is trading above the $34.60 level. What about the other precious metals? Gold is 0.5% higher, platinum is 1.5% higher and palladium is 2.2% lower. So, the main precious metals’ prices are higher this morning.
Today, we won’t get any new important economic data.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Tuesday, October 22
- 9:25 a.m. U.K. - BOE Governor Bailey Speech
- 10:00 a.m. U.S. - FOMC Member Harker Speech, Richmond Manufacturing Index
- 3:15 p.m. Eurozone - ECB President Lagarde Speech
- All Day - IMF Meetings
- All Day - BRICS Summit
Wednesday, October 23
- 9:45 a.m. Canada - BOC Monetary Policy Report, BOC Rate Statement, Overnight Rate
- 10:00 a.m. U.S. - Existing Home Sales
- 10:00 a.m. Eurozone - ECB President Lagarde Speech
- 10:30 a.m. Canada - BOC Press Conference
- 12:00 p.m. U.S. - FOMC Member Barkin Speech
- 2:00 p.m. U.S. - Beige Book
- 4:30 p.m. U.K. - BOE Governor Bailey Speech
- All Day - IMF Meetings
- All Day - BRICS Summit
Paul Rejczak
Stock Trading Strategist