Silver price broke above $27 level, the highest since March of 2022.
The silver futures contract gained 4.39% on Wednesday, April 3, as it continued rallying after its 3.4% advance on Tuesday. Silver reached new medium-term highs following a record-breaking rally in gold price.
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 trading slightly higher, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.3% higher, as it is trading above the $27 level, the highest since March of 2022. What about the other precious metals? Gold is unchanged, platinum is 0.2% higher and palladium is 0.6% lower. So, the main precious metals’ prices are virtually flat this morning.
Yesterday’s important ADP Non-Farm Employment Change release has been higher than expected at +184,000. Today, we will get the Unemployment Claims number at 8:30 a.m., among others. The markets will be waiting for the monthly jobs data tomorrow.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Thursday, April 4
- 7:30 a.m. U.S. - Challenger Job Cuts y/y
- 8:30 a.m. U.S. - Unemployment Claims, Trade Balance
- 12:15 p.m. U.S. - FOMC Member Barkin Speech
- 2:00 p.m. U.S. - FOMC Member Mester Speech
- All Day, China - Bank Holiday
Friday, April 5
- 8:30 a.m. U.S. - Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m
- 8:30 a.m. Canada - Employment Change, Unemployment Rate
- 9:15 a.m. U.S. - FOMC Member Barkin Speech
Paul Rejczak
Stock Trading Strategist