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Silver and gold prices are rallying this morning ahead of the Fed's latest policy meeting, following a lower-than-expected reading from the May Producer Price Index.

The PPI showed that producer prices actually fell by 0.3% in May, and were down to a 1.1% rate of increase over the past year. Which of course fueled speculation that the Fed will indeed pause its interest rate hiking cycle at today's meeting, which could possibly be the end of the hiking cycle.

Of course, there's also been speculation that after pausing in June that the Fed could still hike again in July, with a Wall Street Journal article on Tuesday suggesting as much, which helped drive the precious metals prices lower yesterday afternoon.

We'll find out more this afternoon when the Fed releases its policy statement, which will also be followed by another press conference from Fed Chair Jerome Powell. While at this point a pause in today's rate decision is largely priced in, the focus will be on any guidance of what the Fed plans to do going forward, as it continues its fight against inflation, while also balancing that against a weakening economy and banking sector.

That's what's discussed in today's show, as well as some of the recent trends and news in the silver market.

Video Length: 00:25:59

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