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.