NEW YORK, Sept. 24 -- Silver has not broken. Not yet. But two sessions of Federal Reserve officials saying the quiet part loudly - that the rate hike cycle that produced September's increase may not stop there - have kept the metal pinned below $65 in a way the September 16 hike itself never quite managed.

XAG/USD traded at $64.23 per troy ounce in Wednesday's North American session, a decline of $0.21 or 0.33 percent from Tuesday's close of $64.44. The intraday range of $63.74 to $64.55 was narrow by the standards of the past two weeks, which saw a 3.12 percent single-session drop on Tuesday after Fed Chair Kevin Warsh's remarks at the Peterson Institute for International Economics, followed by further selling Wednesday as the dollar in...