US Silver Scrap prices rise; Silver Futures settle higher

UNITED STATES December 22 2015 5:35 PM

NEW YORK (Scrap Register): United States silver scrap prices rose on Monday, while silver futures prices at New York Mercantile Exchange settled higher as investors continued to digest the Federal Reserve's historic decision to lift interest rates from record-lows.

The major silver scrap commodities on the Scrap Register Price Index traded up on Monday. The hallmarked silver scrap prices advanced to $11.69 an ounce and non-hallmarked silver scrap prices gained to $10.377 an ounce.

The most active March silver contract on the COMEX division of the New York Mercantile Exchange settled up by 22 cents to $14.32 an ounce on Monday.

Citing improved labor market conditions and expectations that long-term inflation would move toward its targeted goal of 2%, the Federal Open Market Committee (FOMC) raised short-term interest rates on Wednesday for the first time in nearly a decade. In a unanimous vote, the FOMC lifted the target range on its benchmark.