UNITED STATES February 23 2016 6:25 PM
NEW YORK (Scrap Register): United States silver scrap prices slumped on Monday, while silver futures prices at New York Mercantile Exchange settled down as investors' appetite for riskier assets such as equities curbed demand for the safe-haven, while a rising dollar weighed as well.
The dollar’s gains came as the British pound plunged to a seven-year low after London Mayor Boris Johnson’s shock decision to back a campaign for Britain to leave the European Union in a June referendum.
The major silver scrap commodities on the Scrap Register Price Index traded down on Monday. The hallmarked silver scrap prices decreased to $12.349 an ounce and non-hallmarked silver scrap prices dropped to $10.961 an ounce.
The most active March silver contract on the COMEX division of the New York Mercantile Exchange settled lower by 18.9 cents to $15.184 an ounce on Monday.
Both gold and silver appeared to retreat after enjoying recent haven bids during earlier worries about the global economy. Bullion prices are usually growing in times of political and economic uncertainty when investors seek safe-havens assets.
