Investing.com - Silver futures edged lower in rangebound trade on Monday, as investors looked ahead to the Federal Reserve’s upcoming policy meeting later this week. On the Comex division of the New York Mercantile Exchange, silver futures for July delivery traded at USD21.88 a troy ounce during European morning trade, down 0.3% on the day. Comex silver prices held in a range between USD21.86 a troy ounce, the daily low and a session high of USD22.06 a troy ounce. Silver prices were likely to find near-term support at USD21.34 a troy ounce, the low from June 10 and resistance at USD22.24, June 14’s high. Investors remained cautious amid ongoing speculation over whether the Federal Reserve will begin to unwind its easing program in the coming months. Moves in the silver price this year have largely tracked shifting expectations as to whether the U.S. central bank would end its bond-buying program sooner-than-expected. Silver, like gold, can benefit from such an environment of easy money because of expectations that ample liquidity would put a damper on the value of paper currencies. Elsewhere on the Comex, gold for August delivery was down 0.1% to trade at USD1,386.25 a troy ounce, while copper for July delivery added 0.35% to trade at USD3.213 a pound.

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