US Silver Scrap prices climb further in line with Silver Futures

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)

US Scrap Gold, COMEX Gold prices fall on strong Dollar

By Vibin AntonyUnited States scrap gold prices fell on the Scrap Register Price Index as on Monday, tracking the weakness in gold futures prices at New York Mercantile Exchange as the U.S. dollar strengthened against most of its currency rivals to start the week.

The major gold scrap commodities prices including 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap, 22ct hallmarked gold scrap, 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap on the Scrap Register Price Index dropped on Monday.

The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices declined by 0.46 percent to 444.612 an ounce, 693.594 an ounce, 889.223 an ounce and 1086.038 an ounce respectively.

The 9ct non-hallmarked gold scrap, 14ct non-hallmarked gold scrap, 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices fell to 420.548 an ounce, 656.054 ounce, 841.095 an ounce and 1027.258 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange fell by $4.10 to settle at $1,224.60 an ounce on Monday, after losing about 0.1% on Friday. Last week, however, prices tallied a gain of roughly 0.6%.

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