Daily Silver News: January 19 – Silver Price Is Closer to $23 Again

Silver retraces some of the recent decline, getting back to $23.

The silver futures contract gained 0.61% on Thursday, January 18, as it bounced from the new local low of around $22.50. Silver was the lowest since mid-November yesterday, following economic data, stronger U.S. dollar. Before the Fed’s announcement on December 13, silver was extending the downtrend that started on December 4 after an overnight short squeeze price action in gold price.

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

Daily Silver News: January 19 – Silver Price Is Closer to $23 Again - Image 1

The silver price is 0.6% higher, as it is trading closer to $23. What about the other precious metals? Gold is 0.5% higher, platinum is 0.6% higher and palladium is 0.9% higher. So the main precious metals’ prices are higher again this morning.

Yesterday’s Unemployment Claims release has been lower than expected at 187,000. Today we will get the UoM Consumer Sentiment 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).

Friday, January 19

  • 2:00 a.m. U.K. - Retail Sales m/m
  • 5:00 a.m. Eurozone - ECB President Lagarde Speech
  • 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations, Existing Home Sales
  • 4:00 p.m. U.S. - TIC Long-Term Purchases
  • 4:15 p.m. U.S. - FOMC Member Daly Speech
  • All Day - WEF Annual Meetings

Monday, January 22

  • 10:00 a.m. U.S. - CB Leading Index m/m
  • Tentative, Japan - Monetary Policy Statement, BOJ Policy Rate, BOJ Outlook Report

Paul Rejczak
Stock Trading Strategist