Daily Silver News: February 13 – Silver Slightly Below $23

Silver price remains close to $23 level ahead of the important inflation data.

The silver futures contract gained 0.77% on Monday, February 12, as it broke above the short-term trading range and the level of $22.50. Recently, it was extending 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, however, within its yesterday’s range, as we can see on the daily chart (the chart includes today’s intraday data):

Daily Silver News: February 13 – Silver Slightly Below $23 - Image 1

The silver price is 0.8% higher, as it is trading below the $23 level. What about the other precious metals? Gold is 0.4% higher, platinum is 0.1% higher and palladium is 1.8% higher. So the main precious metals’ prices are higher this morning.

The markets are waiting for the very important Consumer Price Index release at 8:30 a.m. today. Volatility is likely to increase following that announcement.

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

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

Wednesday, February 14

  • 2:00 a.m. U.K. - CPI y/y, Core CPI y/y,
  • 10:00 a.m. U.K. - BOE Governor Bailey Speech
  • 4:00 p.m. U.S. - FOMC Member Barr Speech
  • 7:30 p.m. Australia - Employment Change, Unemployment Rate
  • All Day, China – Bank Holiday

Paul Rejczak
Stock Trading Strategist