Silver Rises to $22.50 per Ounce Prior to Fed Meeting

Today, spot silver prices rose $0.09, to $22.50 per ounce, Reuters reported. Silver futures, however, were down this morning, with futures for December delivery falling $0.07, to $22.57 an ounce, as per MarketWatch.

Market participants are waiting for the US Federal Reserve to convene tomorrow for a two-day meeting. Many expect that the Fed will decide to continue its stimulus program through the beginning of 2014 as it waits for positive economic data that indicates the US economy is improving, MarketWatch said. The Fed will make an announcement regarding stimulus on Wednesday.