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US Scrap Gold prices decline in line with Gold Futures

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NEW YORK (Scrap Register): United States scrap gold prices declined on the Scrap Register Price Index as on Tuesday in line with gold futures prices at New York Mercantile Exchange as strength in the U.S. dollar pressured the precious metal into giving back all of the previous session’s gains and then some.

The major gold scrap commodities on the Scrap Register Price Index declined on Tuesday. The 9ct hallmarked gold scrap prices fell by 0.672 to $467.128 an ounce and 14ct hallmarked gold scrap prices dropped to $728.719 an ounce. The 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices also traded lower at $934.256 ounce and $1141.037 an ounce respectively.

According to Scrap Register Price Index, the 9ct non-hallmarked gold scrap prices fell to $441.845 an ounce and 14ct non-hallmarked gold scrap prices fell to $689.278 an ounce on Tuesday. The 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices are also declined to $883.69 an ounce and $1079.28 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange fell by $5.70 to end at $1,291 an ounce on Tuesday. It settled at $1,296.70 on Monday—the highest settlement since early June, up 0.4%, or $5.10.

(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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