US Silver Scrap prices remain flat; Silver Futures settle marginally lower

UNITED STATES January 04 2016 6:20 PM

NEW YORK (Scrap Register): United States silver scrap prices remained flat on Friday, while silver futures prices at New York Mercantile Exchange ended the year 2015 marginally lower on Thursday.

The major silver scrap commodities on the Scrap Register Price Index traded almost flat on Friday. The hallmarked silver scrap prices unchanged at $11.377 an ounce and non-hallmarked silver scrap prices stayed flat at $10.099 an ounce.

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The most active March silver contract on the COMEX division of the New York Mercantile Exchange settled down by 1.5 cents to $13.80 an ounce on Thursday. The gray metal registered a 3.9% weekly decline, a 1.9% monthly fall and an annual drop of more than 11%.

Silver settled flat with the precious metal fell to its third consecutive annual loss, declining on the back of the new U.S. interest-rate cycle that will likely keep the pressure up in 2016. 

A report showed that the number of people who filed for unemployment assistance in the U.S. rose to the highest level since mid-July last week.

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