US Silver Scrap prices decline; Silver Futures advance to $17.889 an ounce

UNITED STATES February 15 2017 6:29 PM

NEW YORK (Scrap Register): United States silver scrap prices declined on Tuesday, while silver futures prices at New York Mercantile Exchange advanced as the US dollar headed for its first decline of the month.

The major silver scrap commodities on the Scrap Register Price Index down by 0.365% on Tuesday. The hallmarked silver scrap prices dropped to $14.740 an ounce and non-hallmarked silver scrap prices down to $13.084 an ounce.

The most active March silver contract on the COMEX division of the New York Mercantile Exchange rose 6.8 cents to settle at $17.889 an ounce on Tuesday.

Silver prices initially declined on Monday for only the second time in seven days, as demand for precious metals softened on account of a rising dollar and improved risk appetite in the global financial markets. Investors’ appetite for risk weakened on Tuesday, with Japanese stocks declining more than 1%.