Silver Sinks from Five-week High to $20.09 per Ounce

Silver fell 0.1 percent, or $0.02, to $20.09 per ounce this morning, Reuters reported. The drop was caused by traders “book[ing] profits from a recent rally which took prices to a five-week high earlier in the session,” as per Investing.com.

Looking forward, Investing.com sees precious metals being impacted by the Federal Reserve’s next meeting, set to take place from January 28 to 29. “Expectations of monetary stimulus” usually benefit prices for such metals, the news outlet states.