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US Scrap Gold prices fell in line with Gold Futures after weekly gain

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NEW YORK (Scrap Register): United States gold scrap prices fell on the Scrap Register Price Index as on Monday, tracking the weakness in gold futures prices at New York Mercantile Exchange as a rise in Treasury yields helped put the metal on track for a fifth loss in six sessions, even as a popular gauge for the dollar paused a run higher.

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 on Monday.

The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices dropped by 0.33 percent to 480.095 an ounce, 748.949 an ounce, 960.191 an ounce and 1172.713 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 454.111 an ounce, 708.413 an ounce, 908.222 an ounce and 1109.242 an ounce respectively.

The most active June gold contract on the COMEX division of the New York Mercantile Exchange fell by $2.50 to $1,318.20 an ounce on Friday.

Gold futures had settled Thursday at $1,322.30, which marked a recent peak, the highest finish for a most-active contract since April 27. Gold futures logged a roughly 0.5% rise last week, the first weekly climb in about a month.

(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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