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):
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