The price of silver skyrocketed to a historic high during Powell's press conference.

On Wednesday, the New York afternoon session, spot silver rose 1.83% to $61.7854 per ounce, significantly rebounding during Federal Reserve Chairman Powell's press conference to a new high of $61.9507. COMEX silver futures rose 2.27% to $62.230 per ounce, also hitting a new high of $62.390. COMEX copper futures rose 1.64% to $5.4070 per pound, also significantly widening the gains during Powell's speech. Spot platinum fell 1.84%, while spot palladium rose 0.82%.