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US Scrap Gold and COMEX Gold prices fall as Dollar continue to advance

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NEW YORK (Scrap Register): United States scrap gold prices fell on the Scrap Register Price Index as on Tuesday, while gold futures prices at New York Mercantile Exchange weighed down by a second straight session of gains for the U.S. dollar.

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 dropped on Tuesday.

The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices declined by 0.164 percent to 452.978 an ounce, 706.645 an ounce, 905.956 an ounce and 1106.474 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 428.461 an ounce, 668.399 ounce, 856.922 an ounce and 1046.587 an ounce respectively.

The February gold contract on the COMEX division of the New York Mercantile Exchange dropped by $2.20 to settle at $1,247.20 an ounce on Tuesday, down from an earlier high above $1,255.

Expectations for a slowdown in the pace of future rate increases by the U.S. Federal Reserve, however, helped cap losses for the metal.

(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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