Silver reached $35 mark, following record-breaking run in gold prices.
The silver futures contract gained 2.83% on Tuesday, October 22, as it accelerated its uptrend once again, reaching new long-term highs above the $35 level. Silver is the highest since 2012. Earlier this month, 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 pulling back slightly, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.8% lower, as it is trading along the $34.80 level. What about the other precious metals? Gold is 0.1% higher, platinum is 0.4% higher and palladium is 0.9% lower. So, the main precious metals’ prices are mixed this morning.
Today, we will get the Existing Home Sales release at 10:00 a.m., and the Beige Book at 2:00 p.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
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
Thursday, October 24
- 3:15 a.m. Eurozone - French Flash Manufacturing PMI, French Flash Services PMI
- 3:30 a.m. Eurozone - German Flash Manufacturing PMI, German Flash Services PMI
- 4:00 a.m. Eurozone - Flash Manufacturing PMI, Flash Services PMI
- 4:30 a.m. U.K. - Flash Manufacturing PMI, Flash Services PMI
- 8:30 a.m. U.S. - Unemployment Claims
- 8:45 a.m. U.S. - FOMC Member Hammack Speech
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. - New Home Sales
- 7:30 p.m. Japan - Tokyo Core CPI y/y
- All Day - IMF Meetings
- All Day - BRICS Summit
Paul Rejczak
Stock Trading Strategist