Silver Holds Firm as Dollar Slides Following Split Fed Decision
Silver prices remained elevated on Wednesday after the Federal Reserve kept interest rates unchanged, a decision that surprisingly weakened the US dollar despite a spike in Treasury yields.
XAGUSD
Silver clung to gains late Wednesday in North American trading, with XAG/USD quoted at $57.17. The advance came as the Federal Reserve held interest rates steady, a move that paradoxically weakened the U.S. dollar rather than providing support.
Treasury yields spiked following the decision, but the dollar's slide lifted demand for the precious metal. The split nature of the Fed's vote added to uncertainty, weighing on the greenback.
Source: FXStreet Forex News