Silver trading range for the day is 40534-42110.Silver dropped as investors turned their attention to the outcome of the Federal Reserve’s two-day meeting. The Fed is widely expected to hike rates for the first time in a year on at the conclusion of its meeting, with investors pricing in a 100% chance of an increase. Holdings at ishares silver trust dropped by 0.53% i.e. 56.04 tonnes to 10664.32 tonnes from 10664.32 tonnes.
Gold trading range for the day is 27380-27726.Gold dipped slightly ahead of key two-day meeting of U.S. Fed that is expected to deliver the second interest rate rise in a decade. Feds Charles Evans said that it was still early to have a good idea of what fiscal policies and other events are going to mean. Reflecting lackluster sentiment, holdings of the SPDR Gold Trust, holdings are down over 9 pct since November.