18th December 2013
Silver prices have climbed higher today (December 18th), before the conclusion of the Federal Reserve's two-day policy meeting.
After the gathering, the central bank's chairman Ben Bernanke will hold his final news conference as leader of the Fed - he is set to leave the post at the end of his second term on January 31st 2014.
Current deputy chair Janet Yellen has been formally nominated as his replacement and despite the expectations of continuity between the two regimes, it is widely speculated the bank will look to reduce its asset purchases this month to ease the transition.
Having declined by 1.3 per cent following flat US consumer price inflation data yesterday, silver prices have advanced in electronic trading on the Comex division of the New York Mercantile Exchange, adding 0.65 per cent to $19.96 per ounce.
Over the course of 2013, silver prices have fallen by around 35 per cent, largely as a result of speculation regarding the future of the Fed's quantitative easing programme.
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