Daily Silver News: November 21 - Silver Trading Sideways

Silver price fluctuates after its last week’s rally; it remains below $24.

The silver futures contract lost 1.00% on Monday, November 20 as it retraced some more of its last week’s rally after bouncing from $24 price level. Last week it retraced all of November declines following Tuesday’s Consumer Price Index release, weaker U.S. dollar. Last week on Monday it bounced from new local low of $21.92, and on Friday it reached new local high of $24.22.

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

Daily Silver News: November 21 - Silver Trading Sideways - Image 1

The silver price is 0.1% lower as it is trading along $23.60. What about the other precious metals? Gold is 0.4% higher, platinum is 0.7% higher and palladium is 0.4% higher. So the main precious metals’ prices are mixed this morning.

Today we will get the important FOMC Meeting Minutes release at 2:00 p.m. There will also be the Existing Home Sales release at 10:00 a.m.

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

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

Wednesday, November 22

  • 3:35 a.m. Australia - RBA Governor Bullock Speech
  • 4:00 a.m. Eurozone - ECB Financial Stability Review
  • 8:30 a.m. U.S. - Unemployment Claims, Durable Goods Orders m/m, Core Durable Goods Orders m/m
  • 10:00 a.m. U.S. - Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
  • 11:30 a.m. Canada - BOC Governor Macklem Speech
  • All Day, Japan – Bank Holiday

Paul Rejczak
Stock Trading Strategist