Silver extends its short-term uptrend; economic data in focus.
The silver futures contract gained 0.10% on Wednesday, March 26, as it fluctuated after its Tuesday’s rally of 2.2%. It remained above the $34 level following elevated gold prices. Last week, silver retreated from its Tuesday’s local high of $35.00. It was the highest since late October. In October, the market was the highest since 2012.
Today, silver is resuming its short-term uptrend, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 1.5% higher, as it is trading along the $34.40 level. What about the other precious metals? Gold is 1.3% higher, platinum is 0.3% higher and palladium is 1.3% higher. So, the main precious metals’ prices are higher this morning.
Today, we will get the Final GDP and Unemployment Claims releases at 8:30 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).
Thursday, March 27
- 8:30 a.m. U.S. - Final GDP q/q, Unemployment Claims, Final GDP Price Index q/q, Goods Trade Balance, Preliminary Wholesale Inventories m/m
- 10:00 a.m. U.S. - Pending Home Sales m/m
- 4:30 p.m. U.S. - FOMC Member Barkin Speech
- 7:30 p.m. Japan - Tokyo Core CPI y/y
Friday, March 28
- 3:00 a.m. U.K. - Retail Sales m/m
- 4:00 a.m. Eurozone - Spanish Flash CPI y/y
- 8:30 a.m. U.S. - Core PCE Price Index m/m, Personal Income m/m, Personal Spending m/m
- 8:30 a.m. Canada - GDP m/m
- 10:00 a.m. U.S - Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
- 12:15 p.m. U.S. - FOMC Member Barr Speech
- 3:45 p.m. U.S. - FOMC Member Bostic Speech
Paul Rejczak
Stock Trading Strategist