Silver Prices Rebound Ahead of Fed Rate Hike, Warsh Press Conference

Silver prices rebounded on Wednesday, gaining 1.32% to around $64.00 per troy ounce as investors adjusted their positions ahead of the highly anticipated Federal Reserve (Fed) monetary policy decision.

The widely expected 25-basis-point interest rate hike would bring the federal funds target range to 3.75%-4.00%, marking the first increase by the US central bank since July 2023.

A stronger US Dollar, potentially resulting from a higher interest rate environment, and the opportunity cost of holding precious metals are key factors weighing on Silver's upside.