Daily Silver News: February 12 – Silver Price Is Back at $23

Silver extends its Friday’s bounce, trading along the $23 level.

The silver futures contract lost 0.19% on Friday, February 9, as it extended a consolidation following last week’s declines. On Thursday, it bounced from the new local low of $22.19. Recently, silver sold off on strenghtening U.S. dollar and better-than-expected economic data releases. On January 22, it was the lowest since mid-November, with the daily low at $22.04 that day.

Today silver is trading higher, as we can see on the daily chart (the chart includes today’s intraday data):

Daily Silver News: February 12 – Silver Price Is Back at $23 - Image 1

The silver price is 1.8% higher, as it is trading along the $23 level. What about the other precious metals? Gold is 0.1% lower, platinum is 0.7% higher and palladium is 3.4% higher. So the main precious metals’ prices are mixed this morning.

Today, we won’t get any new important economic data, however, there will be some speeches from the FOMC Members. The markets will be waiting for the very important Consumer Price Index release tomorrow.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).

Monday, February 12

  • 9:20 a.m. U.S. - FOMC Member Bowman Speech
  • 12:00 p.m. U.S. - FOMC Member Barkin Speech
  • 1:00 p.m. U.K. - BOE Governor Bailey Speech
  • 2:00 p.m. U.S. - Federal Budget Balance
  • All Day, Eurozone - Eurogroup Meetings
  • All Day, China – Bank Holiday

Tuesday, February 13

  • 2:00 a.m. U.K. - Claimant Count Change, Average Earnings Index 3m/y, Unemployment Rate
  • 5:00 a.m. Eurozone - German ZEW Economic Sentiment
  • 6:00 a.m. U.S. - NFIB Small Business Index
  • 8:30 a.m. U.S. - CPI m/m, Core CPI m/m, CPI y/y
  • All Day, China – Bank Holiday

Paul Rejczak
Stock Trading Strategist