Silver is slightly extending the uptrend, following record-breaking rally in gold.
The silver futures contract gained 2.40% on Thursday, September 19, as it retraced its Wednesday’s intraday retreat, breaking above the $31 level again. On Wednesday, it fluctuated following the FOMC Rate Decision release. In late August, silver pulled back from the $30 level, and on the previous Wednesday, it approached the $28 level.
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 slighlty extending its uptrend, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.6% higher, as it is trading along the the $31.60 level. What about the other precious metals? Gold is 0.9% higher, platinum is 0.4% higher and palladium is 0.4% lower. So, the main precious metals’ prices are higher this morning.
Yesterday’s Unemployment Claims release has been lower than expected at 219,000. 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).
- 8:15 a.m. Canada - BOC Governor Macklem Speech
- 8:30 a.m. Canada - Retail Sales m/m, Core Retail Sales m/m
- 11:00 a.m. Eurozone - ECB President Lagarde Speech
- 2:00 p.m. U.S. - FOMC Member Harker Speech
- Tentative, Japan - BOJ Press Conference
Monday, September 23
- 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
- 8:00 a.m. U.S. - FOMC Member Bostic Speech
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:15 a.m. U.S. - FOMC Member Goolsbee Speech
- 1:00 p.m. U.S. - FOMC Member Kashkari Speech
Paul Rejczak
Stock Trading Strategist