US Silver Scrap prices advance; Silver Futures fall as Italian turmoil ease

New York (June 3)  United States silver scrap prices advanced on the Scrap Register Price Index as on Thursday, while silver futures prices at New York Mercantile Exchange fell as dollar strengthened after Italian political turmoil subsided.

 The major silver scrap commodities on the Scrap Register Price Index dropped on Thursday. The hallmarked silver scrap prices dropped by 1.09 percent to $13.625 an ounce and non-hallmarked silver scrap prices dropped to $12.094 an ounce.

 The most active July Silver contract on the COMEX division of the New York Mercantile Exchange has dropped by 0.5 percent to $16.458 an ounce on Thursday. However, the contract was up nearly 0.5% for the month.

 U.S. consumer spending posted its biggest gain in five months in April, a further sign that economic growth was regaining momentum early in the second quarter, while inflation continued to rise steadily.

ScrapRegister