Silver Defies Oil Price Rebound Amid US-Iran Tensions and Fed Decision
Silver prices are bucking the trend in oil markets, rising to near $57.80 despite a sharp rebound in oil prices due to renewed conflicts between the US and Iran.
The price of WTI oil is up 3.65% to nearly $81.20, snapping a three-day losing streak.
The Federal Reserve's monetary policy announcement on Wednesday will be crucial for Silver investors, with a 69.5% chance that interest rates will remain unchanged at the current range of 3.50%-3.75%, according to the CME FedWatch tool.