UNITED STATES January 11 2016 6:24 PM
NEW YORK (Scrap Register): United States silver scrap prices gained on Friday, while silver futures prices at New York Mercantile Exchange settled lower amid a stronger dollar, as China halted a week-long equity rout and a mixed U.S. jobs report provided further ambiguity on the timing of the Federal Reserve's next interest rate hike.
The major silver scrap commodities on the Scrap Register Price Index traded up on Friday. The hallmarked silver scrap prices rose to $11.558 an ounce and non-hallmarked silver scrap prices advanced to $10.26 an ounce.
The most active March silver contract on the COMEX division of the New York Mercantile Exchange settled lower by 3% to $13.918 an ounce on Friday.
The Federal Reserve is expected to continue moving its interest rates higher over this year, while the pace of increases will be data dependent. Fed's Lacker expressed confidence that inflation in the US will return to the Fed's 2% target once oil prices and the US dollar stabilize.
The U.S. Department of Labor's Bureau of Labor Statistics (BLS) said in its December national employment report that nonfarm payrolls surged by 292,000 last month, significantly above expectations for a consensus gain of 200,000.