Silver traded around $63 per ounce on Wednesday, testing its lowest level in more than one month after the Federal Reserve raised interest rates by 25 basis points. The widely anticipated decision followed data showing elevated consumer and producer prices, strong economic growth and low unemployment. Most FOMC members also projected another rate hike this year. Shorter-maturity Treasury yields rose to multi-year highs, increasing competition for non-yielding bullion. The Bank of Japan is also due to raise rates this week. Separately, metals exposed to datacenter development came under pressure after AI model executives raised concerns about the safety of increasingly capable models, threatening speculative demand for compute infrastructure.