US Silver Scrap prices fall; Silver Futures fail to post weekly gain

UNITED STATES November 14 2016 5:31 PM
NEW YORK (Scrap Register): United States silver scrap prices fell on Friday, while silver futures prices at New York Mercantile Exchange failed to post gains this week, though its loss is smaller than that of gold’s. 

The major silver scrap commodities on the Scrap Register Price Index traded higher on Friday. The hallmarked silver scrap prices up by 0.85% to $15.304 an ounce and non-hallmarked silver scrap prices declined to $13.585 an ounce.

The most active December silver contract on the COMEX division of the New York Mercantile Exchange dropped $1.355 to end at $17.382 an ounce on Friday, the lowest finish since early October. Silver logged about a 5.4% weekly loss.

Copper futures, meanwhile, saw a weekly climb of nearly 11%, which was the largest in over five years, as traders bet that policies expected to be pursued by Republican Donald Trump’s administration could feed demand for industrial metals.