UNITED STATES December 10 2015 6:45 PM
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.