Silver futures rose to $65.08 early Wednesday, breaking out of a recent trading range as investors prepare for the Federal Reserve's first interest rate hike in three years.
Silver futures rose 0.5% to $65.08 as markets anticipate the first Fed rate hike in three years.
Silver futures climbed 0.5% to $65.08 on Wednesday as investors position themselves ahead of a highly anticipated Federal Reserve meeting. Markets are pricing in a 92.5% probability of a 25-basis-point interest rate hike, the first such increase in three years.
Investors are anticipating the first interest rate hike in three years, which impacts silver as a non-yielding asset; higher rates generally increase the opportunity cost of holding precious metals.