Silver inches down ahead of Fed
Economies.com
2017-03-15 17:57PM UTC
Silver prices fell modestly on Wednesday as wavering dominates the white metal's movements as the Federal Reserve concludes its periodic meeting, while investors hold off assuming new risks for the time being.
Silver last traded at $16.89 an ounce, down from the opening price of $16.90, with an intraday high at $16.97, and a low at $16.81.
Silver's drop today comes amid wavering despite dollar's decline against a basket of rivals ahead of Fed's expected rate hike, as markets await the Fed's decision before launching new positions.
The dollar fell today after U.S. consumer prices rose in February less than before, pressuring the dollar but failing to prop up silver today.
The white metal hit a six-week trough last week on profit-taking after setting recent highs, but silver failed to recover again on ongoing negative pressures from the prospects of a Fed rate hike.
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