Today, silver dropped 0.57 percent, or $0.12, to trade at $21.01 per ounce, according to Reuters.

The drop came as investors exercised caution ahead of a two-day US Federal Reserve meeting that is set to begin today. Most analysts believe that the central bank will decide to taper its stimulus program by a further $10 billion.

Bolstering the white metal’s price somewhat were continued worries about the Ukraine situation.