LONDON, March 28: Growing interest in silver is expected to push the price to new highs, with funds buying the metal on expectations that a proposed investment vehicle will give them strong returns. Spot silver matched Monday’s $10.92 an ounce, the highest in more than 22 years, before easing to $10.84/10.87 by 0955 GMT. In terms of the daily fix by the London Bullion Market Association, the market matched its highest in 19 years.

Gold prices fell to $563.75/564.50 an ounce from $566.50/567.40 late in New York on Monday, as traders were wary of building new positions just before a US Federal Reserve monetary policy meeting later in the day.

In other metals, palladium rose as much as $342 an ounce, its highest in more than three years, before falling to $336.50/ 341.50, versus $337/342 in New York.

Platinum matched a 7-week high of $1,071 an ounce before easing to $1,068/1,072 an ounce, up from $1,064/1,068.—Reuters