Daily Silver News: November 24 – Silver Remains Below $24

Silver price is still fluctuating after rallying to $24 level last week.

The silver futures contract gained 0.30% on Thursday, November 23 as it extended a short-term consolidation following its mid-month rally. The activity was low due to Thanksgiving Day in the U.S. Last week silver retraced all of its November declines following the 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 virtually flat as we can see on the daily chart (the chart includes today’s intraday data):

Daily Silver News: November 24 – Silver Remains Below $24 - Image 1

The silver price is 0.1% higher as it is trading along the $23.70 level. What about the other precious metals? Gold is 0.2% higher, platinum is 0.1% lower and palladium is 0.4% higher. So the main precious metals’ prices are slightly higher this morning.

Wednesday’s Unemployment Claims release has been lower than expected at 209,000. Today we will get the important Flash Manufacturing PMI and Flash Services PMI releases at 9:45 a.m.

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

Friday, November 24

  • 4:00 a.m. Eurozone - German ifo Business Climate
  • 5:00 a.m. Eurozone - ECB President Lagarde Speech
  • 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI

Monday, November 27

  • 10:00 a.m. U.S. - New Home Sales
  • 10:20 p.m. Australia - RBA Governor Bullock Speech

Paul Rejczak
Stock Trading Strategist