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US Gold Scrap prices drop; Gold Futures inch up

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NEW YORK (Scrap Register): United States gold scrap prices dropped on the Scrap Register Price Index as on Wednesday, while gold futures prices at New York Mercantile Exchange to settle above a four-month low, with analysts pinning the rebound in part on geopolitical worries.

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 down on Wednesday.

The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices dropped by 0.341% to 459.671 an ounce, 717.087 an ounce, 919.342 an ounce and 1122.823 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 declined to 434.792 an ounce, 678.275 an ounce, 869.584 an ounce and 1062.051 an ounce respectively.

The most active December gold contract on the COMEX division of the New York Mercantile Exchange advanced by 1.20 percent to end at $1,266.10 an ounce on Wednesday, after Tuesday’s 1% slide to its lowest settlement in about four months.

It remains down so far for the week, showing a decline of more than 1%, after posting declines in each of the last two sessions.

(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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