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US Gold Scrap prices down; COMEX Gold advances as stocks fall

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NEW YORK (Scrap Register): United States gold scrap prices showed down trend on the Scrap Register Price Index as on Monday, while gold futures prices at New York Mercantile Exchange settled higher as investors retreated somewhat from purchasing assets perceived as risky, like global stocks.

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 showed a down trend as on Monday.

The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices dropped by 0.49% to 464.854 an ounce, 725.173 an ounce, 929.709 an ounce and 1135.484 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 down to 439.695 an ounce, 685.924 an ounce, 879.389 an ounce and 1074.028 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange has gained by $4.70 to end at $1,278.90 an ounce on Monday.

The contract retreated sharply to finish at $1,274.20 an ounce Friday, down roughly 1% for its biggest one-day drop in roughly two weeks. That move came a day after gold posted its highest finish since October 16.

US stocks struggled to gain traction on Monday amid the tax uncertainty, and this was mildly beneficial to haven gold. European stocks finished lower for a fifth straight session, weighed down by Brexit worries.

(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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