UNITED STATES February 01 2016 8:30 PM
NEW YORK (Scrap Register): United States silver scrap prices gained on Friday, while silver futures prices at New York Mercantile Exchange settled higher amid surging stock and oil prices and a strengthening dollar.
The major silver scrap commodities on the Scrap Register Price Index traded up on Friday. The hallmarked silver scrap prices advanced to $11.591 an ounce and non-hallmarked silver scrap prices gained to $10.289 an ounce.
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The most active March silver contract on the COMEX division of the New York Mercantile Exchange settled higher by 1.1 cents to $14.243 an ounce on Friday.
The market has gained this year amid turmoil in global financial markets and weak economic data, including lower-than-expected initial results for fourth quarter U.S. gross domestic product showed.
The greenback surged against the yen after the Bank of Japan spooked global markets by approving a negative interest rate policy for the first time in its history.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)