Silver is fluctuating following its Wednesday’s rebound, remaining above $31.
The silver futures contract gained 0.19% on Monday, January 20, as it rebounded after its Friday’s pullback. The market retraced some of its last Wednesday’s rally of almost 4%, despite gold prices moving sideways. On Thursday, silver was the highest since December 12, and on Monday, it retested the $31 level.
In late October, silver reversed the uptrend, selling off from the October 22-23 new long-term high of $35.07. The market was the highest since 2012.
Today, silver is moving sideways, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.1% lower, as it is trading along the $31.20 level. What about the other precious metals? Gold is 0.1% higher, platinum is 1.0% lower and palladium is 1.7% lower. So, the main precious metals’ prices are mixed 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, January 21
- 2:00 a.m. U.K. - Claimant Count Change
- 5:00 a.m. Eurozone - German ZEW Economic Sentiment
- 8:30 a.m. Canada - CPI m/m, Median CPI y/y, Trimmed CPI y/y, Common CPI y/y, Core CPI m/m
- All Day, Eurozone - ECOFIN Meetings
- All Day - WEF Annual Meetings
Wednesday, January 22
- 10:00 a.m. U.S. - CB Leading Index m/m
- 10:15 a.m. Eurozone - ECB President Lagarde Speech
- All Day - WEF Annual Meetings
Paul Rejczak
Stock Trading Strategist