By Vibin Antony
United States silver scrap prices climbed further on the Scrap Register Price Index as on Tuesday, tracking the up trend in silver futures prices at New York Mercantile Exchange as stocks faltered, weighed down by political tensions between Saudi Arabia and Western powers, uncertainties around Brexit and Italy's budgetary woes.
The major silver scrap commodities on the Scrap Register Price Index advanced on Friday. The hallmarked silver scrap prices advanced further by 0.58 percent to $12.114 an ounce and non-hallmarked silver scrap prices climbed to $10.753 an ounce.
The most active December Silver contract on the COMEX division of the New York Mercantile Exchange has advanced by 20.6 cents to $14.793 an ounce on Tuesday.
A cocktail of geopolitical tensions, led by Saudi Arabia’s crisis over its alleged role in the murder of prominent journalist Jamal Khashoggi, along with a weaker dollar, Italy’s budget woes and the ongoing U.S.-China trade war added to strength as an inflation hedge and store of value in times of trouble. US data showed the Richmond manufacturing index tumbled to 15 from 29 in September, missing estimates of 25.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
United States silver scrap prices climbed further on the Scrap Register Price Index as on Tuesday, tracking the up trend in silver futures prices at New York Mercantile Exchange as stocks faltered, weighed down by political tensions between Saudi Arabia and Western powers, uncertainties around Brexit and Italy's budgetary woes.
The major silver scrap commodities on the Scrap Register Price Index advanced on Friday. The hallmarked silver scrap prices advanced further by 0.58 percent to $12.114 an ounce and non-hallmarked silver scrap prices climbed to $10.753 an ounce.
The most active December Silver contract on the COMEX division of the New York Mercantile Exchange has advanced by 20.6 cents to $14.793 an ounce on Tuesday.
A cocktail of geopolitical tensions, led by Saudi Arabia’s crisis over its alleged role in the murder of prominent journalist Jamal Khashoggi, along with a weaker dollar, Italy’s budget woes and the ongoing U.S.-China trade war added to strength as an inflation hedge and store of value in times of trouble. US data showed the Richmond manufacturing index tumbled to 15 from 29 in September, missing estimates of 25.
(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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