US Silver Scrap prices advance; Silver Futures settle slightly higher

Published: Jan 7, 2016 09:15

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United States silver scrap prices advanced on Tuesday

UNITED STATES January 06 2016 5:27 PM

NEW YORK (Scrap Register): United States silver scrap prices advanced on Tuesday, while silver futures prices at New York Mercantile Exchange settled slightly higher as fresh concerns over global growth boosted demand for safe-haven assets.

The major silver scrap commodities on the Scrap Register Price Index traded up on Tuesday. The hallmarked silver scrap prices unchanged at $11.534 an ounce and non-hallmarked silver scrap prices stayed flat at $10.238 an ounce.

The most active March silver contract on the COMEX division of the New York Mercantile Exchange settled slightly up by $0.154 to $13.995 an ounce on Tuesday.

Silver received another boost after data showed that manufacturing activity in the U.S. and China, the world's two biggest economies, both contracted last month, rekindling fears over the global growth outlook.

Bullion, often seen as a alternative investment in times of political and financial uncertainty, is also benefiting from a shift away from risk along with the Japanese yen and U.S. bonds.

United States silver scrap prices

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