UNITED STATES January 24 2017 5:49 PM
NEW YORK (Scrap Register): United States silver scrap prices gained nearly 1.5 percent on Monday, while silver futures prices at New York Mercantile Exchange settled higher as a weaker dollar and safe haven buying on uncertainties over U.S. policy after Donald Trump was sworn in as president.
The major silver scrap commodities on the Scrap Register Price Index climbed by 1.49 percent on Monday. The hallmarked silver scrap prices advanced to $14.111 an ounce and non-hallmarked silver scrap prices rose to $12.525 an ounce.
The most active March silver contract on the COMEX division of the New York Mercantile Exchange advanced by 15.4 cents to settle at $17.186 an ounce on Monday, building on its 1.6% weekly gain from last week.
The U.S. dollar index dollar sold off amid disappointment that U.S. President Donald Trump’s inauguration speech on Friday proved light on detail over his plans for economic stimulus.