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US Silver Scrap prices fall; Silver Futures advance one percent

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NEW YORK (Scrap Register): United States silver scrap prices showed a down trend on the Scrap Register Price Index as on Monday, while silver futures prices at New York Mercantile Exchange advanced as investor uncertainty over the outcome of tax reform continued while a slump in sterling boosted the dollar.

The major silver scrap commodities on the Scrap Register Price Index showed a down trend on Monday. The hallmarked silver scrap prices declined to $13.934 an ounce and non-hallmarked silver scrap prices fell to $12.368 an ounce.

The most active December silver contract on the COMEX division of the New York Mercantile Exchange settled higher by one percent to settle at $17.047 an ounce on Monday.

U.S. inflation expectations edged up again in October, touching their highest level in six months, according to a Federal Reserve Bank of New York survey that could spell some relief for central bankers looking for hints of price pressure.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

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