US Silver Scrap prices climb; Silver Futures mark 1.9% weekly advance

NEW YORK (Scrap Register): United States silver scrap prices climbed on Friday, while silver futures prices at New York Mercantile Exchange advanced to $17.748 an ounce led by a dip in the dollar, as weaker than expected economic data and fears that President Trump failed to secure enough Republican votes to push a key healthcare bill through congress weighed on the greenback.
The major silver scrap commodities on the Scrap Register Price Index climbed by 0.456% on Friday. The hallmarked silver scrap prices advanced to $14.514 an ounce and non-hallmarked silver scrap prices up to $12.883 an ounce.
The most active May silver contract on the COMEX division of the New York Mercantile Exchange gained by 15.5 cents to $17. 748 an ounce on Friday and for a 1.9% weekly advance.
The outcome of a vote on a bill to repeal and replace parts of Obamacare remained front and center on Friday, as investors worried that a negative outcome would cast a doubt on Trump’s ability to push through more ‘market sensitive’ legislation such as a tax reform.