US Scrap Silver prices rise; Silver Futures post best weekly climb since Aug 2013

UNITED STATES July 04 2016 7:03 PM     

NEW YORK (Scrap Register): United  States silver scrap prices rose on Friday, while silver futures prices at New  York Mercantile Exchange logged their largest weekly climb since 2013, hitting a  nearly 22-month high as the U.S. dollar softened and investors continued to  search for safety.

The major silver scrap commodities on the Scrap  Register Price Index traded higher on Friday. The hallmarked silver scrap prices  advanced to $15.839 an ounce and non-hallmarked silver scrap prices up to $  14.06 an ounce.

The most active September silver contract on  the COMEX division of the New York Mercantile Exchange gained 96.5 cents at  $19.588 an ounce on Friday.

Silver prices haven’t settled at a level  this high since mid-August 2014. Silver futures prices saw a 10.1% weekly gain,  the largest since August 2013.

Precious metals have benefited from  worries sparked by the U.K.’s decision to exit the European Union, dubbed  Brexit. But precious metals have also seen somewhat of a pull back as appetite  for risk lured buyers back into stocks over the past few sessions.