Daily Silver News: November 14 – Silver Bounced From $22

Silver price is trading sideways ahead of today’s consumer inflation release.

The silver futures contract gained 0.35% on Monday, November 13 as it bounced from new local low of $21.92. It accelerated its downtrend before bouncing from mid-October local lows. Recently silver price followed a sell-off in gold, stronger USD, among other factors. On previous Friday silver price was above the $23 level and it was extending an almost month-long consolidation. On October 4 silver price reached new medium-term low of $20.85 and it was the lowest since early March, and on October 20 it traded as high as $23.9.

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

Daily Silver News: November 14 – Silver Bounced From $22 - Image 1

The silver price is 0.2% higher as it is trading along the $22.40 level. What about the other precious metals? Gold is unchanged, platinum is 0.2% higher and palladium is 1.1% lower. So the main precious metals’ prices are relatively flat this morning.

The markets will be waiting for today’s important Consumer Price Index release at 8:30 a.m. There will likely be an increased volatility following that data.

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

Tuesday, November 14

  • 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
  • 10:00 a.m. U.S. - FOMC Member Barr Speech
  • 12:45 p.m. U.S. - FOMC Member Goolsbee Speech
  • 7:30 p.m. Australia - Wage Price Index q/q
  • 9:00 p.m. China - Industrial Production y/y, Retail Sales y/y

Wednesday, November 15

  • 2:00 a.m. U.K. - CPI y/y, Core CPI y/y
  • 8:30 a.m. U.S. - PPI m/m, Core PPI m/m, Retail Sales m/m, Core Retail Sales m/m, Empire State Manufacturing Index
  • 10:00 a.m. U.S. - Business Inventories m/m
  • 7:30 p.m. Australia - Employment Change, Unemployment Rate

Paul Rejczak
Stock Trading Strategist