Silver Rises to $19.93 an Ounce as Investors Await FOMC Statement

Today, spot silver rose $0.06 from the previous session, hitting $19.93 an ounce, Reuters reported. Silver futures for March delivery on the COMEX in New York are up at $19.92 after seeing an increase of $0.09, according to Kitco News.

Investors are currently awaiting a statement regarding the United States’ stimulus program; it is expected to be released today at the end of the US Federal Open Market Committee (FOMC) meeting. Recent economic data has some speculating that the meeting will bring about an immediate start to stimulus tapering. Encouragingly, Kitco states that such an abrupt change likely won’t cause extreme volatility in the market as traders have had weeks to digest the fact tapering will happen soon.