US Silver Scrap prices gain further; Silver Futures post best weekly rise since April 15

UNITED STATES June 13 2016 7:04 PM     

NEW YORK (Scrap Register): United  States silver scrap prices gained further on Friday, while silver futures prices  at New York Mercantile Exchange ended higher as investors remained bullish on  the precious metal while global bond yields and stocks continued to  dip.

The major silver scrap commodities on the Scrap Register Price Index  traded up on Friday. The hallmarked silver scrap prices advanced to $14.259 an  ounce and non-hallmarked silver scrap prices up to $12.657 an  ounce.

The most active July silver contract on the  COMEX division of the New York Mercantile Exchange jumped 6.2 cents to $17.22 an  ounce on Friday, ending about 5.9% higher for the week to log its best weekly  rise since the week ended April 15.

Investors continued to pile into  safe-haven assets such as precious metals, as government bond yields worldwide  tumbled to fresh record lows. Yields on the Germany 10-Year fell as low as  0.02%, as more than 75% of German government bond yields hovered in negative  territory.