Daily Silver News: October 25 – Silver Price Remains Close to $23
Silver continues to fluctuate along $23; still relatively weaker than gold.
The silver futures contract lost 0.40% on Tuesday, October 24 as it extended a consolidation along the $23 level. On Friday it broke above a short-term consolidation along the $23 price level and on Monday 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 trading closer to its yesterday’s lows as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 0.8% lower as it is trading slightly below the $23.00 level. What about the other precious metals? Gold is 0.1% lower platinum is unchanged and palladium is 0.2% lower. So the main precious metals’ prices are mixed this morning.
Yesterday’s U.S. Flash Manufacturing PMI and Flash Services PMI releases have been better than expected. Today we will get the New Home Sales release at 10:00 a.m. The markets will be waiting for tomorrow’s important Advance GDP number.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
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
Thursday, October 26
- 8:15 a.m. Eurozone - Main Refinancing Rate, Monetary Policy Statement
- 8:30 a.m. U.S. - Advance GDP q/q, Unemployment Claims, Advance GDP Price Index q/q, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Goods Trade Balance, Preliminary Wholesale Inventories m/m
- 8:45 a.m. Eurozone - ECB Press Conference
- 9:00 a.m. U.S. - FOMC Member Waller Speech
- 10:00 a.m. U.S. - Pending Home Sales m/m
- 7:30 p.m. Japan - Tokyo Core CPI y/y
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