Silver Rises to $19.69 an Ounce Prior to Fed Announcement

This morning, silver was up 0.7 percent, or $0.14, to $19.69 an ounce, according to Reuters. The white metal was pushed higher by a drop in stock markets worldwide ahead of today’s US Federal Reserve announcement.

Analysts expect the Fed to agree to further cuts to its monthly bond-buying program; however, as a contraction of the program is now priced into the market, a cut may not have much impact on precious metals prices, Reuters said.