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US Scrap Gold prices gain in line with Gold Futures

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NEW YORK (Scrap Register): United States gold scrap prices gained on the Scrap Register Price Index as on Thursday, while gold futures prices at New York Mercantile Exchange finished as the precious metal tried to clamber off five-week lows struck earlier this week.

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The major gold scrap commodities on the Scrap Register Price Index gained on Thursday. The 9ct hallmarked gold scrap prices advanced by 0.68% to $454.978 an ounce and 14ct hallmarked gold scrap prices gained to $709.766 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also traded higher at $909.957 ounce and $1111.361 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices advanced to $430.353 an ounce and 14ct non-hallmarked gold scrap prices rose to $671.351 an ounce on Thursday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also gained to $860.707 an ounce and $1051.21 an ounce respectively.

The most active August gold contract on the COMEX division of the New York Mercantile Exchange gained by $3.60 to end at $1,249.40 an ounce on Thursday, after tacking on about 0.2% a day earlier.

That was the highest settlement since Friday and it comes just three days after the contract finished Tuesday at its lowest since May 16.

(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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