UNITED STATES December 01 2016 5:13 PM

NEW YORK (Scrap Register): United States silver scrap prices climbed on Wednesday, while silver futures prices at New York Mercantile Exchange settled higher as the dollar pushed higher after upbeat U.S. economic reports supported the case for higher interest rates.

The major silver scrap commodities on the Scrap Register Price Index traded higher on Wednesday. The hallmarked silver scrap prices gained by 0.786 percent to $13.724 an ounce and non-hallmarked silver scrap prices advanced to $12.182 an ounce. 

The most active March silver contract on the COMEX division of the New York Mercantile Exchange fell by 25 cents to end at $16.48 an ounce on Wednesday. 

Silver prices lost 7.6% in November, its biggest monthly drop since August. Silver recently receded into bear-market territory, which is typically defined as a 20% drop from a recent peak.