Daily Silver News: October 13 – Silver Trades Along Recent Highs
Silver price remains above $22 despite strong U.S. dollar.
The silver futures contract lost 0.79% on Thursday, October 12 as it went sideways following its recent rebound. On Monday the market broke above the $22 level. Then it was fluctuating following last week’s rebound and Friday’s rally of 3.4%. Silver retraced more of its recent declines after bouncing from $21 price level. Last week on Wednesday the market reached new medium-term low of $20.85 and it was the lowest since early March.
Today silver is trading higher as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 1.6% higher as it is trading above $22.30 level. What about the other precious metals? Gold is 1.1% higher platinum is 0.4% lower and palladium is 0.3% lower. So the main precious metals’ prices are higher this morning.
Yesterday’s important Producer Price Index release has been higher than expected at +0.5% m/m. Today we will get the Consumer Price Index announcement at 8:30 a.m. There will likely be an increased volatility following that release.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Friday, October 13
- 4:00 a.m. U.K. - BOE Governor Bailey Speech
- 9:00 a.m. U.S. - FOMC Member Harker Speech
- 9:00 a.m. Eurozone - ECB President Lagarde Speech
- 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations
- All Day - IMF Meetings
Monday, October 16
- 8:30 a.m. U.S. - Empire State Manufacturing Index
- 10:30 a.m. U.S. - FOMC Member Harker Speech
- 4:30 p.m. U.S. - FOMC Member Harker Speech
- 8:30 p.m. Australia - Monetary Policy Meeting Minutes
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