Daily Silver News: November 20 – Silver Price Bounced From $24

Silver retraces some of its last week’s advances this morning.

The silver futures contract lost 0.34% on Friday, November 17 as it fluctuated along the $24 level following last week’s rebound. Last week it retraced all of its November declines following Tuesday’s Consumer Price Index release, weaker U.S. dollar. On Monday a week ago it bounced from new local low of $21.92 and on Friday it was above $24.

Today silver is retracing some of its last week’s advances as we can see on the daily chart (the chart includes today’s intraday data):

Daily Silver News: November 20 – Silver Price Bounced From $24 - Image 1

The silver price is 1.7% lower as it is trading below $23.50. What about the other precious metals? Gold is 0.5% lower, platinum is 0.1% lower and palladium is 0.1% lower. So the main precious metals’ prices are lower this morning.

Today we won’t get any new important economic data. The markets will be waiting for tomorrow’s FOMC Meeting Minutes release.

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

Monday, November 20

  • 1:45 p.m. U.K. - BOE Governor Bailey Speech
  • 6:00 p.m. Australia - RBA Governor Bullock Speech
  • 7:30 p.m. Australia - Monetary Policy Meeting Minutes

Tuesday, November 21

  • 8:30 a.m. Canada - CPI m/m, Median CPI y/y, Trimmed CPI y/y, Common CPI y/y, Core CPI m/m
  • 10:00 a.m. U.S. - Existing Home Sales
  • 11:00 a.m. Eurozone - ECB President Lagarde Speech
  • 2:00 p.m. U.S. - FOMC Meeting Minutes

Paul Rejczak
Stock Trading Strategist