Silver broke higher despite gold pulling back; data, tariffs in focus.
The silver futures contract gained 1.95% on Wednesday, April 23, as it broke above its recent trading range despite a significant pullback in gold prices. Recently, silver has been relatively weaker than gold. The previous Monday, it rebounded from a new local low of $27.55. On March 28, silver reached the highest since 2012.
Today, silver is fluctuating following yesterday’s advance, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.3% lower, as it is trading along the $33.40 level. What about the other precious metals? Gold is 1.6% higher, platinum is 0.4% higher and palladium is 0.8% higher. So, the main precious metals’ prices are higher this morning.
Today, we will get the Unemployment Claims release at 8:30 a.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Thursday, April 24
- 4:00 a.m. Eurozone - German ifo Business Climate
- 8:30 a.m. U.S. - Unemployment Claims, Durable Goods Orders m/m, Core Durable Goods Orders m/m
- 10:00 a.m. U.S. - Existing Home Sales
- 5:00 p.m. U.S. - FOMC Member Kashkari Speech
- 7:30 p.m. Japan - Tokyo Core CPI y/y
- All Day - IMF Meetings
- All Day, Australia - Bank Holiday
Friday, April 25
- 2:00 a.m. U.K. - Retail Sales m/m
- 8:30 a.m. Canada - Retail Sales m/m, Core Retail Sales m/m
- 10:00 a.m. U.S. - Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
- All Day - IMF Meetings
Paul Rejczak
Stock Trading Strategist