US Silver Scrap prices rise; Silver futures settle at more than 15-month high

UNITED STATES May 02 2016 6:22 PM

NEW YORK (Scrap Register): United States silver scrap prices rose on Friday, while silver futures prices at New York Mercantile Exchange marked the highest futures settlement in about 15 months.

The major silver scrap commodities on the Scrap Register Price Index traded up on Friday. The hallmarked silver scrap prices advanced to $14.699 an ounce and non-hallmarked silver scrap prices gained to $13.048 an ounce.

The most active May silver contract on the COMEX division of the New York Mercantile Exchange settled higher by 23.1 cents to $17.819 an ounce on Friday. For the month, prices finished 15.2% higher, based on the most-active contracts.

Silver futures prices at New York Mercantile Exchange settled higher as investors continued to digest dovish signals from the Federal Reserve on the gradual path of tightening it will pursue in the coming months after the U.S. central bank's latest decision to leave short-term interest rates unchanged.

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