Daily Silver News: October 4 – Silver Broke Below $21 Mark

Silver price was the lowest since March yesterday; today it’s trading sideways.

The silver futures contract lost 0.21% on Tuesday, October 3 as it further extended the downtrend. The market kept selling off on economic data releases, strong U.S. dollar. Yesterday silver broke slightly below the $21.00 level and it was the lowest since early March. The daily low was at $20.87.

Today it is trading along its yesterday’s closing price as we can see on the daily chart (the chart includes today’s intraday data):

Daily Silver News: October 4 – Silver Broke Below $21 Mark - Image 1

The silver price is 0.3% lower as it is trading just below the $21.40 level. What about the other precious metals? Gold is 0.1% lower platinum is unchanged and palladium is 0.9% lower. So the main precious metals’ prices are slightly lower this morning.

Yesterday’s important JOLTS Job Openings release has been much better than expected at 9.61 million. Today we will get the ADP Non-Farm Employment Change and ISM Services PMI numbers, among others.

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

Wednesday, October 4

  • 4:15 a.m. Eurozone - ECB President Lagarde Speech
  • 8:15 a.m. U.S. - ADP Non-Farm Employment Change
  • 9:45 a.m. U.S. - Final Services PMI
  • 10:00 a.m. U.S. - ISM Services PMI, Factory Orders m/m
  • 10:25 a.m. U.S. - FOMC Member Bowman Speech
  • 10:30 a.m. U.S. - FOMC Member Goolsbee Speech
  • 12:00 p.m. Eurozone - ECB President Lagarde Speech
  • All Day - OPEC-JMMC Meetings
  • All Day, China – Bank Holiday

Thursday, October 5

  • 7:30 a.m. U.S. - Challenger Job Cuts y/y
  • 8:30 a.m. U.S. - Unemployment Claims, Trade Balance
  • 10:00 a.m. Canada - Ivey PMI
  • 12:15 a.m. U.S. - FOMC Member Barr Speech
  • All Day, China – Bank Holiday

Paul Rejczak
Stock Trading Strategist