US Silver Scrap prices advance; Silver Futures end down on strong Dollar


NEW YORK (Scrap Register): United States silver scrap prices advanced on Thursday, while silver futures prices at New York Mercantile Exchange ended down as stocks firmed and the U.S. dollar rose on expectations the Federal Reserve would raise interest rates by year-end.

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The major silver scrap commodities on the Scrap Register Price Index traded slightly up on Thursday. The hallmarked silver scrap prices edged up by 0.86% to $14.481 an ounce and non-hallmarked silver scrap prices up to $12.854 an ounce.

However, the most active December silver contract on the COMEX division of the New York Mercantile Exchange down by 4.7 cents to $17.46 an ounce on Thursday.

The number of Americans filing for unemployment benefits held at a 43-year low last week, pointing to sustained labour market strength that could pave the way for the Fed to raise interest rates in December.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

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