Silver falls ahead of FOMC decisions

Silver prices fell on the European market on Wednesday for the first time in four days, as the dollar recovered against a basket of currencies, before the Federal Reserve's decisions at the end of its periodic meeting on monetary policy.

At 11:25 GMT, silver prices fell more than 0.3% to trade at $15.30 an ounce, from the opening of $15.35, with the highest at $15.37 and the lowest at $15.26.

Silver prices rose 0.2% on Tuesday, its third daily gain in a row, with most backed-by-dollar metals rising.

The dollar index rose by about 0.2% on Wednesday, attempting to reach its first daily gain in the last nine days, as its rebound from a three-week low of 95.72 points, showing the recovery of the US currency against a basket of currencies.

The recovery of the dollar comes ahead of Federal Reserve decisions at the end of its monetary policy meeting, amid strong estimates indicate that the US interest rates to remain unchanged at 2.50%.

Investors are looking for new evidence for the future of raising US interest rates this year, especially as there is strong estimates that the US central bank will adopt a pessimistic tone and lower expectations for future interest rates.

The Federal Funds Rate, FOMC Statement and the FOMC Economic Projections will be released at 18:00 GMT, followed by the Federal Reserve chairman, Jerome Powell, press conference at 18:30 GMT.