US Silver Scrap prices continue to decline; Silver Futures settle higher

UNITED STATES December 04 2015 6:18 PM

NEW YORK (Scrap Register): United States silver scrap prices dropped on Thursday, while silver futures prices at New York Mercantile Exchange advanced.

The major silver scrap commodities on the Scrap Register Price Index traded down on Thursday. The hallmarked silver scrap prices down to $11.468 an ounce and non-hallmarked silver scrap prices declined to $10.179 an ounce. 

The most active March silver contract on the COMEX division of the New York Mercantile Exchange settled up by 6.8% cents to $14.077 an ounce on Tuesday.

Silver futures prices at New York Mercantile Exchange settled higher as the dollar suffered one of its worst sessions of the year, after the European Central Bank sent shock waves through global foreign exchange markets by instituting limited easing measures on Thursday that fell far short of market expectations.

In a widely unexpected move, the ECB left several key interest rates unchanged and opted not to increase the pace of its €60 billion a month quantitative easing program as many expected heading into the closely-watched meeting.