Daily Silver News: October 24 – Silver Extends Yesterday’s Decline
Silver price is coming back to $23 level as U.S. dollar weakens.
The silver futures contract lost 1.25% on Monday, October 23 as it retraced more than a half of its Friday’s rally of 2.1%. On Friday it broke above a short-term consolidation along the $23 price level and yesterday it came back to that level again. On October 4 silver price reached new medium-term low of $20.85 and it was the lowest since early March, and last Friday it traded as high as $23.9.
Today silver is retracing its Friday’s advance as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 1.5% lower as it is trading below the $23.00 level. What about the other precious metals? Gold is 0.9% lower platinum is 1.5% lower and palladium is 0.9% lower. So the main precious metals’ prices are lower this morning.
Today we will get the important U.S. 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).
Tuesday, October 24
- 2:00 a.m. U.K. - Claimant Count Change
- 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
- 4:00 a.m. Australia - RBA Governor Bullock Speech
- 4:30 a.m. U.K. - Flash Manufacturing PMI, Flash Services PMI
- 8:30 a.m. Eurozone - ECB President Lagarde Speech
- 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
- 10:00 a.m. U.S. - Richmond Manufacturing Index
- 8:30 p.m. Australia - CPI q/q, CPI y/y, Trimmed Mean CPI q/q
Wednesday, October 25
- 4:00 a.m. Eurozone - German ifo Business Climate
- 10:00 a.m. U.S. - New Home Sales
- 10:00 a.m. Canada - BOC Monetary Policy Report, BOC Rate Statement, Overnight Rate
- 11:00 a.m. Canada - BOC Press Conference
- 1:00 p.m. Eurozone - ECB President Lagarde Speech
- 4:35 p.m. U.S. - Fed Chair Powell Speech
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