US Silver Scrap prices rise; Silver Futures settles above $15 an ounce

UNITED STATES February 12 2016 8:32 PM

NEW YORK (Scrap Register): United States silver scrap prices rose on Friday, while silver futures prices at New York Mercantile Exchange settled higher as sharp declines in stocks sent tremors through global markets pushing investors to seek shelter in the safe-haven asset.

The major silver scrap commodities on the Scrap Register Price Index traded up on Friday. The hallmarked silver scrap prices advanced to $ 12.884 an ounce and non-hallmarked silver scrap prices gained to $11.436 an ounce.

The most active March silver contract on the COMEX division of the New York Mercantile Exchange settled higher by 51.2 cents to $ 15.794 an ounce on Friday.

Silver gained tracking gain's from Gold prices which showed a massive gains, gold posted its strongest one-day gains since December 1, 2014 when it soared nearly 7% to eclipse $1,260. Gold closed higher for the seventh consecutive session and the ninth time in the last 10 sessions.