Fed Data Not Yet Released; Silver Hits $21.07 per Ounce

Today, silver rose 0.3 percent, or $0.06, to trade at $21.07 per ounce, according to Reuters. Market participants are still waiting for the Federal Reserve to release the minutes from its June meeting. They are expected to provide clues about future stimulus plans.

The news outlet also notes that two Fed officials recently gave a fairly negative view of the pace of US growth, which is beneficial to precious metals. “If you take the average of all the different forecasts of the Fed members,” Natixis analyst Nic Brown cautioned, “they are somewhat more hawkish as a whole than [Federal Reserve Chair Janet] Yellen is individually. If that is the message that comes through this evening, that could be unpleasant.”