NEW YORK (Scrap Register): United States silver scrap prices gained nearly 2 percent on Monday, while silver futures prices at New York Mercantile Exchange dropped as recent actions by U.S. President Donald Trump helped soothe investor worries about uncertainty surrounding the new administration’s controversial policies.
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The major silver scrap commodities on the Scrap Register Price Index gained by 1.98% on Monday. The hallmarked silver scrap prices climbed to $14.794 an ounce and non-hallmarked silver scrap prices advanced to $13.132 an ounce.
The most active March silver contract on the COMEX division of the New York Mercantile Exchange lost 11.2 cents to settle at $17.821 an ounce on Monday, coming off a weekly rise of 2.6%.
US economic data has stoked talk that the Federal Reserve would press ahead with U.S. interest rate hikes sooner rather than later. US import prices rose more than expected in January, while initial jobless claims dropped unexpectedly last week to the lowest in nearly 43 years.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
