Silver price continues sideways, remaining above the $32 level.
The silver futures contract lost 0.22% on Friday, October 4, as it fluctuated following the monthly jobs data release. On Friday, silver reached a new medium-term high of $33.22, before pulling back near the $32 level again. It was the highest since December of 2012. On the previous Tuesday, it broke above $32 following record-breaking advance in gold.
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 moving sideways again, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.6% lower, as it is trading along the the $32.20 level. What about the other precious metals? Gold is 0.3% higher, platinum is 0.7% lower and palladium is 0.9% higher. So, the main precious metals’ prices are mixed this morning.
Friday’s Nonfarm Payrolls release has been higher than expected at +254,000. Today, we won’t get any new important data. However, there will be speeches from the FOMC Members.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Monday, October 7
- 1:00 p.m. U.S. - FOMC Member Bowman Speech
- 1:50 p.m. U.S. - FOMC Member Kashkari Speech
- 3:00 p.m. U.S. - Consumer Credit m/m
- 6:30 p.m. U.S. - FOMC Member Musalem Speech
Tuesday, October 8
- 3:00 a.m. U.S. - FOMC Member Kugler Speech
- 8:30 a.m. U.S. - Trade Balance
- 12:45 p.m. U.S. - FOMC Member Bostic Speech
- 4:00 p.m. U.S. - FOMC Member Collins Speech
- 7:30 p.m. U.S. - FOMC Member Jefferson Speech
- Tentative, U.S. - RCM/TIPP Economic Optimism
- All Day, Eurozone - ECOFIN Meetings
Paul Rejczak
Stock Trading Strategist