US Gold Scrap prices advance slightly; Gold Futures mark best finish in almost six weeks
NEW YORK (Scrap Register): United States scrap gold prices advanced slightly on Monday, while gold futures prices at New York Mercantile Exchange settled at their highest level in almost six weeks as uncertainty surrounding the U.S. Federal Reserve’s pace of interest-rate hikes has helped weaken the dollar and drive down interest rates.
The 9ct hallmarked gold scrap prices gained slightly by 0.225 percent to $428.679 an ounce and 14ct hallmarked gold scrap prices climbed to $668.74 an ounce on Monday. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also advanced to $857.359 ounce and $1047.121 an ounce respectively.
According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices traded slightly higher at $405.478 an ounce and 14ct non-hallmarked gold scrap prices gained to $632.545 an ounce on Monday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices advanced to $810.955 an ounce and $990.447 an ounce respectively.
The most active February gold contract on the COMEX division of the New York Mercantile Exchange advanced by $11.50 to $1,184.90 an ounce on Monday.
The settlement was the highest since November 29. For the week through Friday, gold tallied a 1.8% advance, with back-to-back weekly gains.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments email@example.com)