Silver Rises to $19.53 Ahead of Fed Statement

This morning, silver rose $0.11, reaching $19.53 per ounce, according to Reuters.

Though the white metal is up slightly today, the overall outlook for precious metals is dependent on the global and US economies. And, as the US seems to be entering a period of growth, prices for such metals may be harmed in the future.

An annual gathering of policymakers joined by Federal Reserve Chair Janet Yellen should shed more light on the situation. At this point, the expectation is that the Fed will reign in its policy, dealing a blow to precious metals prices.

“Given the general trend in macroeconomic data and the seeming complacency of market participants right now, the greater risk is for a hawkish surprise,” UBS said in a note, according to Reuters.