US Silver Scrap prices rise in line with Silver Futures

UNITED STATES December 10 2015 6:45 PM     

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NEW YORK (Scrap Register): United  States silver scrap prices edged up on Wednesday, while silver futures prices at  New York Mercantile Exchange settled higher with markets increasingly confident  of a Federal Reserve rate hike next week.

The major silver scrap  commodities on the Scrap Register Price Index traded up on Wednesday. The  hallmarked silver scrap prices advanced to $11.748 an ounce and non-hallmarked  silver scrap prices gained to $10.428 an ounce.

The most  active March silver contract on the COMEX division of the New York Mercantile  Exchange settled up by 7.3 cents to $14.189 an ounce on Wednesday.

Silver  futures prices at New York Mercantile Exchange inched up amid a sharply weaker  dollar, as investors continued to prepare for next week's critical Federal  Reserve meeting where the U.S. central bank is largely expected to raise  short-term interest rates for the first time in nearly a decade.