Precious Metals Preview: COMEX silver anchored near one-year low

COMEX gold is seen holding around $4050 per ounce mark on Thursday morning in Asia after the US central bank left benchmark interest rates unchanged at its October policy meeting. Fed Chairman Kevin Warsh said during a press conference that officials have ?made clear our readiness to act as circumstances require, and we have shown our willingness to act.? On the inflation front, the Fed acknowledged that price pressures remain elevated, but it chose to pause further rate hikes to gather additional data and assess the appropriate monetary policy stance. Silver also remains anchored near one-year lows at $53.27 an ounce this morning and continues to face downward pressure as the central bank offered limited guidance regarding the timing and trajectory of its next policy move. The US Personal Consumption Expenditures (PCE) inflation data for September will take centre stage later today.

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