UNITED STATES March 06 2017 7:28 PM
NEW YORK (Scrap Register): United States silver scrap prices declined on Friday, while silver futures prices at New York Mercantile Exchange saw a 3.6 percent weekly drop.
The major silver scrap commodities on the Scrap Register Price Index declined by 3.65% on Friday. The hallmarked silver scrap prices dropped to $14.539 an ounce and non-hallmarked silver scrap prices down to $12.905 an ounce.
The most active May silver contract on the COMEX division of the New York Mercantile Exchange fell by under a cent to $17.74 an ounce on Friday. After Thursday’s 4% drop, prices for the contract tallied a loss of 3.6% for the week.
Silver futures down as growing expectations for a March rate hike in the U.S. and a stronger U.S. dollar continued to weigh on the precious metal.