Silver is trading within a consolidation; Trump’s tariffs announcement in focus.
The silver futures contract lost 0.87% on Tuesday, April 1, as it fluctuated after pulling back on Friday and Monday. On Friday, silver reached the highest since 2012, however, it remains relatively weaker than gold.
Today, silver is rebounding and extending its consolidation, as we can see on the daily chart (the chart includes today’s intraday data):
The silver price is 1.1% higher, as it is trading along the $34.80 level. What about the other precious metals? Gold is 0.3% higher, platinum is 0.4% lower and palladium is 0.1% higher. So, the main precious metals’ prices are higher this morning.
Yesterday’s JOLTS Job Openings release has been lower than expected at 7.57 million. Today, we will get the ADP Non-Farm Employment Change release at 8:15 a.m. The markets are also eagerly awaiting President Trump’s tariffs announcement later in the day.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days (EST Timezone).
Wednesday, April 2
- 8:15 a.m. U.S. - ADP Non-Farm Employment Change
- 10:00 a.m. U.S. - Factory Orders m/m
- 4:00 p.m. U.S. - President Trump Speech
- 4:30 p.m. U.S. - FOMC Member Kugler Speech
Thursday, April 3
- 7:30 a.m. U.S. - Challenger Job Cuts y/y
- 8:30 a.m. U.S. - Unemployment Claims, Trade Balance
- 9:45 a.m. U.S. - Final Services PMI
- 10:00 a.m. U.S. - ISM Services PMI
- 12:00 p.m. U.S. - FOMC Member Jefferson Speech
- 2:30 p.m. U.S. - FOMC Member Cook Speech
- All Day - OPEC-JMMC Meetings
- All Day, China - Bank Holiday
Paul Rejczak
Stock Trading Strategist