Silver Falls as Market Players Await Fed Meeting Results

As with gold, silver saw a drop today. The market is currently waiting for the US Federal Reserve to decide whether it will begin to ease off on its stimulus package, according to Bloomberg.

Silver futures for July delivery fell $0.129, landing at $21.63 per ounce on the COMEX in New York. Spot silver prices did not fare much better, falling $0.32, to $21.56 per ounce.

The Fed meeting is scheduled to start today and should last for two days. The Fed will likely step back if it decides that the American economy is coming back on its own.