Silver closes higher as investors eye Fed decision

Silver prices rose on Tuesday, as the US dollar held against most major currencies, as focused turned to the Federal Reserve's decision.

The Federal Reserve started its monthly meeting today, to discuss the latest developments in the US economic scene amid the coronavirus crisis.

The meeting will conclude tomorrow and the Fed will reveal the interest rate decision, which is widely expected to be kept near zero unchanged in line with Chairman Jerome Powell's recent remarks to hold the rate until the economy fully recovers.

The dollar index held against a basket of currencies at 93.06 points as of 22:08 GMT, after it hit a high of 93.1 and a low of 92.7.

Silver December futures rose 0.4% or 11 cents, to close at $27.464 an ounce, after closing 1.9% higher on Monday, with today's high at $27.865 and the low at $27.195.