US Silver Scrap prices fall; Silver Futures close down at $16.12 an ounce

UNITED STATES December 21 2016 6:27 PM

NEW YORK (Scrap Register): United States silver scrap prices fell on Tuesday, while silver futures prices at New York Mercantile Exchange settled lower as Treasury yields remain elevated and stocks indicate a stronger start even as global financial markets continue to monitor the uncertainties around violent attacks on a Christmas market in Berlin.

The major silver scrap commodities on the Scrap Register Price Index fell by 1.253 percent on Tuesday. The hallmarked silver scrap prices declined to $13.007 an ounce and non-hallmarked silver scrap prices down to $11.546 an ounce.

The most active March silver contract on the COMEX division of the New York Mercantile Exchange settled up 2.8 cents to settled at $16.12 an ounce on Tuesday, after trading lower earlier in the session. 

Despite the recent weakness, gold and silver are poised for their first yearly gains since 2012. Silver looks ready to post its largest yearly advance since 2010, up more than 16% so far after a loss of almost 12% in 2015.