FX.co ★ Silver Holds Near 2-Week Low Ahead of Fed Decision

On Wednesday, silver prices remained steady at approximately $38 per ounce, nearly reaching a two-week low, as investors exercised caution ahead of the Federal Reserve's policy announcement. The prevailing expectation is that the Fed will maintain current interest rates, but markets are keenly attuned to any indications of a potential rate cut come September. President Donald Trump continues to exert pressure on the Fed to reduce borrowing costs. Meanwhile, Fed Governors Christopher Waller and Michelle Bowman, both recognized as likely successors to Fed Chair Jerome Powell, are anticipated to dissent at the upcoming meeting. Additionally, trade tensions lingered after US-China discussions in Stockholm concluded on Tuesday without an agreement to prolong the existing tariff truce. Treasury Secretary Scott Bessent indicated that any resolution would necessitate President Trump's final approval.