US Silver Scrap prices up; COMEX Silver clings to $20-an-ounce

UNITED STATES July 20 2016 9:20 PM     

NEW YORK  (Scrap Register): United States silver scrap prices advanced on  Tuesday, while silver futures prices at New York Mercantile Exchange turned  lower.

The major silver scrap commodities on the Scrap Register Price  Index traded up on Tuesday. The hallmarked silver scrap prices gained to $16.457  an ounce and non-hallmarked silver scrap prices advanced to $14.608 an ounce.  

Meanwhile, the most active September silver  contract on the COMEX division of the New York Mercantile Exchange down by 6.8  cents at $20.01 an ounce on Tuesday.

Silver also slipped Monday but  prices are still up about 7.3% month to date, outpacing gold’s 0.9% rise for the  month so far.

Investors were largely hesitant to make any major moves  ahead of the ECB's monetary policy meeting on Thursday. The ECB's Governing  Council is widely expected to stand pat in its first interest rate decision  since last month's historic Brexit decision.