US Scrap Silver prices decrease in line with Silver Futures

UNITED STATES May 09 2016 8:23 PM     

NEW YORK (Scrap Register): United  States silver scrap prices decreased on Friday in line with silver futures  prices at New York Mercantile Exchange.

The major silver scrap  commodities on the Scrap Register Price Index traded down on Friday. The  hallmarked silver scrap prices dropped to $14.25 an ounce and non-hallmarked  silver scrap prices down to $12.649 an ounce.

The most active May silver contract on the  COMEX division of the New York Mercantile Exchange settled lower by 20 cents to  $17.52 an ounce on Friday and the white metal has lost 1.6% on the  week.

However, the prices of gold is up nearly 21% so far this year as  expectations faded that the Fed would move to normalize interest rates due to  fears over a global economic slowdown.