Daily Silver News: April 2 – Silver Extends Advances

Silver price gets closer to the important $26 level again.

The silver futures contract gained 0.63% on Monday, April 1, as it extended its last week’s rebound. Yesterday, the market reacted to a record-breaking rally of the gold price; however, silver remained relatively weaker than the yellow metal.

On March 21, silver failed to break above its early December local high of $26.34, backing off from the $26 level. Since then, it has been relatively weaker than gold.

Today, silver is getting closer to $26 again, as we can see on the daily chart (the chart includes today’s intraday data):

Daily Silver News: April 2 – Silver Extends Advances - Image 1

The silver price is 2.5% higher, as it is trading above the $25.5 level. What about the other precious metals? Gold is 1.1% higher, platinum is 1.6% higher and palladium is 2.2% higher. So, the main precious metals’ prices are higher this morning.

Yesterday’s ISM Manufacturing PMI release has been higher than expected at 50.3. Today, we will get the important JOLTS Job Openings number at 10:00 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).

Tuesday, April 2

  • 10:00 a.m. U.S. - JOLTS Job Openings, Factory Orders m/m
  • 12:00 p.m. U.S. - FOMC Member Williams Speech
  • 12:05 p.m. U.S. - FOMC Member Mester Speech
  • 1:30 p.m. U.S. - FOMC Member Daly Speech
  • All Day, U.S. - Wards Total Vehicle Sales
  • All Day, Eurozone - German Preliminary CPI m/m

Wednesday, April 3

  • 5:00 a.m. Eurozone - CPI Flash Estimate y/y, Core CPI Flash Estimate y/y
  • 8:15 a.m. U.S. - ADP Non-Farm Employment Change
  • 9:45 a.m. U.S. - Final Services PMI
  • 10:00 a.m. U.S. - ISM Services PMI
  • 12:10 p.m. U.S. - Fed Chair Powell Speech
  • All Day - OPEC-JMMC Meetings
  • All Day, China - Bank Holiday

Paul Rejczak
Stock Trading Strategist