Silver falls 5.8% to $49.15 as Fed decision and December risks weigh

Spot silver dropped sharply to $49.15, losing 5.8% on the day, according to Investing.com. The precious metal experienced an 8.9% decline over the week and has fallen 18.7% since the start of October. This rapid sell-off followed the Federal Reserve’s latest policy meeting, which left markets uncertain about the direction of US interest rates ahead of December. On October 28, the Federal Reserve kept its benchmark rate unchanged at 3.75% to 4.00%, despite speculation about a possible increase. The committee voted 10-2 in favor of holding rates steady, with two policymakers advocating for a quarter-point hike.

Source: CoinTurk News