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.