Daily Silver News: November 8 – Silver Below $22.50
Silver price extends yesterday’s decline, it’s the lowest since mid-October.
The silver futures contract lost 2.78% on Tuesday, November 7 as it went down to its recent lows again on strengthening U.S. dollar, among other factors. On Friday silver price was above the $23 level and it was extending an almost month-long consolidation. On October 4 silver price reached new medium-term low of $20.85 and it was the lowest since early March, and on Friday October 20 it traded as high as $23.9.
Today silver is trading lower again as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.5% lower as it is trading below $22.50. What about the other precious metals? Gold is 0.2% lower, platinum is 1.5% lower and palladium is 1.6% lower and palladium is 3.1% lower. So the main precious metals’ prices are slightly lower this morning.
Today we will get a speech from the Fed Chair Powell at 9:15 a.m. There will also be several speeches from the FOMC Members.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Wednesday, November 8
- 4:30 a.m. U.K. - BOE Governor Bailey Speech
- 5:15 a.m. U.S. - FOMC Member Cook Speech
- 9:15 a.m. U.S. - Fed Chair Powell Speech
- 10:00 a.m. U.S. - Final Wholesale Inventories m/m
- 1:01 p.m. U.S. - 10-y Bond Auction
- 2:00 p.m. U.S. - FOMC Member Barr Speech
- 4:45 p.m. U.S. - FOMC Member Jefferson Speech
- 8:30 p.m. China - CPI y/y, PPI y/y
- All Day, Eurozone - Eurogroup Meetings
Thursday, November 9
- 8:30 a.m. U.S. - Unemployment Claims
- Tentative, U.S. - Mortgage Delinquencies
- 12:30 p.m. Eurozone - ECB President Lagarde Speech
- 1:01 p.m. U.S. - 30-y Bond Auction
- 2:00 p.m. U.S. - Fed Chair Powell Speech
- 7:30 p.m. Australia - RBA Monetary Policy Statement
- All Day, Eurozone - ECOFIN Meetings
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