US Scrap Silver prices gain in line with Silver Futures

UNITED STATES May 06 2016 7:30 PM     

NEW YORK (Scrap Register): United  States silver scrap prices gained on Thursday, while silver futures prices at  New York Mercantile Exchange settled higher ahead of Friday's U.S. payrolls  report, which will give clues about whether the Federal Reserve will soon raise  interest rates.

The major silver scrap commodities on the  Scrap Register Price Index traded up on Thursday. The hallmarked silver scrap  prices advanced to $14.308 an ounce and non-hallmarked silver scrap prices up to  $12.70 an ounce.

The most active May silver contract on the COMEX  division of the New York Mercantile Exchange settled up by 2.6 cents to $17.327  an ounce on Thursday.

The dollar has been able to regain some ground  after data on Wednesday showed that the U.S. services sector expanded in April  as new orders and employment accelerated.