Silver price (XAG/USD) slumps to near $30.30 in Tuesday’s European session. The white metal weakens as bond yields stay firm on expectations that the Federal Reserve (Fed) will signal fewer interest rate reductions in 2025 after reducing key borrowing rates by 25 basis points (bps) to 4.25%-4.50% in the monetary policy meeting on Wednesday.

The Federal Reserve is expected to trim its key interest rate for a third straight meeting. But it's likely to forecast a slower pace of cuts in 2025.

Silver price (XAG/USD) extends its losing streak for the sixth consecutive session, trading around $29.50 per troy ounce during the Asian hours on Thursday. The price of the grey metal depreciated more than 3% after the release of the Federal Reserve (Fed) interest rate decision on Wednesday.

Gold prices slipped 1% to a near two-week low on Wednesday after the U.S. Federal Reserve lowered interest rates as expected, but noted it will slow the pace at which borrowing costs fall any further,

Wall Street stocks tumbled and the dollar rallied Wednesday after the Federal Reserve lowered borrowing rates again but projected fewer 2025 interest rate cuts in light of lingering inflation concerns.