UNITED STATES February 06 2017 6:17 PM
NEW YORK (Scrap Register): United States silver scrap prices declined on Friday, while silver futures prices at New York Mercantile Exchange settled higher as a soft U.S. jobs report clouded the outlook for as many as three rate hikes this year forecast by the Fed.
The major silver scrap commodities on the Scrap Register Price Index fell by 2.428% on Friday. The hallmarked silver scrap prices dropped to $14.226 an ounce and non-hallmarked silver scrap prices fell to $12.627 an ounce.
The most active March silver contract on the COMEX division of the New York Mercantile Exchange gained by 5 cents to settle at $17.479 an ounce on Friday, up 1.7% for the week.
U.S. officials said the sanctions, the first issued against Iran in more than a year, didn’t violate the landmark nuclear agreement Tehran reached with the U.S. and other world powers in 2015.
President Donald Trump issued a cryptic tweet after the sanctions. Friday's report showed that January non-farm payrolls rose by 227,000 jobs, the largest gain in four months.