Daily Silver News: November 22 – Silver Extends Consolidation Along $24

Silver price continues to fluctuate following its recent rally.

The silver futures contract gained 1.08% on Tuesday, November 21 as it extended a consolidation along the $24 price level. Last week it retraced all of its 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 22 – Silver Extends Consolidation Along $24 - Image 1

The silver price is 0.2% higher as it is trading slightly below $24 level. What about the other precious metals? Gold is 0.1% higher, platinum is 0.1% higher and palladium is 0.8% lower. So the main precious metals’ prices are slightly higher this morning.

Yesterday’s Existing Home Sales release has been lower than expected at 3.79 million. Today we will get the Unemployment Claims release at 8:30 a.m. and the Revised UoM Consumer Sentiment release at 10:00 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).

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

Thursday, November 23

  • 3:15 a.m. Eurozone - French Flash Manufacturing PMI, French Flash Services PMI
  • 3:30 a.m. Eurozone - German Flash Manufacturing PMI, German Flash Services PMI
  • 4:00 a.m. Eurozone - Flash Manufacturing PMI, Flash Services PMI
  • 4:30 a.m. U.K. - Flash Manufacturing PMI, Flash Services PMI
  • All Day, U.S. - Bank Holiday

Paul Rejczak
Stock Trading Strategist