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US Gold Scrap prices climb in line with COMEX Gold

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NEW YORK (Scrap Register): United States gold scrap prices climbed on the Scrap Register Price Index as on Tuesday, tracking the uptrend in gold futures prices at New York Mercantile Exchange as the U.S. dollar softened and President Donald Trump Secretary of State Rex Tillerson was replaced by Mike Pompeo, current director of the Central Intelligence Agency, helping to boost haven demand for the yellow metal.

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 an uptrend on Tuesday.

The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices gained by 0.272% to 481.15 an ounce, 750.594 an ounce, 962.301 an ounce and 1175.29 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 up to 455.109 an ounce, 709.97 an ounce, 910.217 an ounce and 1111.679 an ounce respectively.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange settled hgher by $6.30 to $1,327.10 an ounce on Tuesday. That was the biggest single session dollar and percentage rise since March 6 and highest settlement since March 7.

(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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