Silver rallies after breaking its early October high, following record-breaking gold.
The silver futures contract gained 4.59% on Friday, Octboer 18, as it rallied after breaking above its early October local high of $33.23. On Friday, it went near the $34 level, reaching the highest since 2012. Recently, silver 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 extending its uptrend, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 3.1% higher, as it is trading along the $34.20 level. What about the other precious metals? Gold is 0.7% higher, platinum is 0.3% higher and palladium is 1.2% lower. So, the main precious metals’ prices are higher this morning.
Today, we will get the CB Leading Index release at 10:00 a.m. There will also 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 21
- 8:55 a.m. U.S. - FOMC Member Logan Speech
- 10:00 a.m. U.S. - CB Leading Index m/m
- 1:00 p.m. U.S. - FOMC Member Kashkari Speech
- 5:05 p.m. U.S. - FOMC Member Schmid Speech
- All Day - IMF Meetings
Tuesday, October 22
- 9:25 a.m. U.K. - BOE Governor Bailey Speech
- 10:00 a.m. U.S. - FOMC Member Harker Speech, Richmond Manufacturing Index
- 3:15 p.m. Eurozone - ECB President Lagarde Speech
- All Day - IMF Meetings
- All Day - BRICS Summit
Paul Rejczak
Stock Trading Strategist