Forex
Fed Decision Looms Large Over Silver and Oil Prices
Silver prices rose by 1.14% to around $57.80 during the Asian trading session on Wednesday, despite a sharp rebound in oil prices.
The white metal's gain came as investors continued to monitor developments in the Middle East following renewed tensions between the US and Iran.
Rising energy costs can contribute to higher inflation expectations, which has weighed on silver demand in recent months.
The key catalyst for silver's price movement is the Federal Reserve's monetary policy decision, scheduled for 18:00 GMT. Traders currently see a 69.5% probability that the Fed will leave interest rates unchanged.