Silver accelerated its sell-off on Monday; today it’s trading below $22.
The silver futures contract lost 4.58% on Monday, October 2 as it accelerated the sell-off following its Friday’s intraday reversal. The market keeps selling off on economic data releases, strong U.S. dollar. Yesterday silver broke below the $21.50 level and it was the lowest since early March.
Today silver is bouncing from the new low of around $20.90 as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.7% lower as it is trading above $21.00 level. What about the other precious metals? Gold is 0.3% lower platinum is 0.1% lower and palladium is 0.5% lower. So the main precious metals’ prices are lower again this morning.
Yesterday’s ISM Manufacturing PMI release has been higher than expected at 49.0. Today we will get the important JOLTS Job Openings number at 10:00 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Tuesday, October 3
- 10:00 a.m. U.S. - JOLTS Job Openings
- All Day, Eurozone – German Bank Holiday
- All Day, China – Bank Holiday
Wednesday, October 4
- 4:15 a.m. Eurozone - ECB President Lagarde Speech
- 8:15 a.m. U.S. - ADP Non-Farm Employment Change
- 9:45 a.m. U.S. - Final Services PMI
- 10:00 a.m. U.S. - ISM Services PMI, Factory Orders m/m
- 10:25 a.m. U.S. - FOMC Member Bowman Speech
- 10:30 a.m. U.S. - FOMC Member Goolsbee Speech
- 12:00 p.m. Eurozone - ECB President Lagarde Speech
- All Day - OPEC-JMMC Meetings
- All Day, China – Bank Holiday
Paul Rejczak
Stock Trading Strategist