US Silver Scrap Prices Up Nearly 1%; Silver Futures Slightly Up

Industry News 08:55:59AM Nov 29, 2016 Source:Scrap Register

UNITED STATES November 28 2016 7:11 PM

NEW YORK (Scrap Register): United States silver scrap prices edged up on Friday, while silver futures prices at New York Mercantile Exchange nosed higher by 7 cents.
The major silver scrap commodities on the Scrap Register Price Index traded higher on Friday. The hallmarked silver scrap prices gained by 0.96% to $13.555 an ounce and non-hallmarked silver scrap prices advanced to $12.032 an ounce. 
The most active December silver contract on the COMEX division of the New York Mercantile Exchange up by 7 cents to end at $16.465 an ounce on Friday. Silver ended the week down 0.4% after earlier this week hitting its lowest mark since June.
Silver prices have slumped into a bear market if measuring the roughly 20% drop from their 52-week high of $20.666 an ounce, reached on August 2, to levels hit this week. 
The US dollar gleaned strength from news that US durable goods orders rose much more strongly than forecasted – it was up 4.8% month-on-month versus an expected uptick of 1.7%. The report is the latest testament to the strength of the US economy and appears to cement the case for the US Federal Reserve to hike rates in December.

US Silver Scrap Prices Up Nearly 1%; Silver Futures Slightly Up

Industry News 08:55:59AM Nov 29, 2016 Source:Scrap Register

UNITED STATES November 28 2016 7:11 PM

NEW YORK (Scrap Register): United States silver scrap prices edged up on Friday, while silver futures prices at New York Mercantile Exchange nosed higher by 7 cents.
The major silver scrap commodities on the Scrap Register Price Index traded higher on Friday. The hallmarked silver scrap prices gained by 0.96% to $13.555 an ounce and non-hallmarked silver scrap prices advanced to $12.032 an ounce. 
The most active December silver contract on the COMEX division of the New York Mercantile Exchange up by 7 cents to end at $16.465 an ounce on Friday. Silver ended the week down 0.4% after earlier this week hitting its lowest mark since June.
Silver prices have slumped into a bear market if measuring the roughly 20% drop from their 52-week high of $20.666 an ounce, reached on August 2, to levels hit this week. 
The US dollar gleaned strength from news that US durable goods orders rose much more strongly than forecasted – it was up 4.8% month-on-month versus an expected uptick of 1.7%. The report is the latest testament to the strength of the US economy and appears to cement the case for the US Federal Reserve to hike rates in December.