Silver Faces Pressure at 33.70 as Fed Meeting Approaches

Silver price (XAG/USD) has retreated from a five-month high of $34.23 to approximately $33.70 as the market awaits news from the Federal Reserve. Analysts observe a temporary pullback as silver bulls pause before the important interest rate decision.

The upcoming Fed meeting could be a pivotal moment, potentially impacting silver prices dramatically. Although the bulls may appear weakened, long-term bullish sentiment remains intact depending on the Fed’s stance.

Investors should keep a close watch on the Fed’s announcements and economic indicators, as they will likely shape price direction in the near term.