Silver Price Plunges Amid Fed Rate Hike Fears
The silver price (XAG/USD) fell to around $66.50 per troy ounce on Wednesday, after registering gains the previous day.
The decline comes as the Federal Reserve signals further rate hikes, with policymakers indicating another potential increase before the end of the year.
The CME FedWatch Tool shows nearly an 89.2% probability of a December rate hike, which is being priced in by financial markets.