US Silver Scrap prices gain in line with COMEX Silver

December 4, 2018

New York (Dec 4)  United States silver scrap prices gained on the Scrap Register Price Index as on Monday, tracking the up trend in silver futures prices at New York Mercantile Exchange mainly due to drop in the dollar following news that the U.S. and China agreed to put any new tariffs on hold for 90 days.

 The major silver scrap commodities on the Scrap Register Price Index gained on Monday. The hallmarked silver scrap prices climbed by 1.05 percent to $11.842 an ounce and non-hallmarked silver scrap prices climbed to $10.512 an ounce.

 The most active March Silver contract on the COMEX division of the New York Mercantile Exchange has climbed by 28.2 cents to $14.499 an ounce on Monday, after settling Friday with a weekly decline of 1%.

 At a meeting during the G20 summit in Argentina over the weekend, U.S. President Donald Trump and his Chinese counterpart Xi Jinping agreed to not introduce any new tariffs for 90 days. During that time, the two countries will work to resolve wider structural problems in the trade relationship.


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